|
Report Date : |
03.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHRINK PACKAGING SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Shrenuj House, Ground Floor, A-7, Road No.5, MIDC Andheri (East), Mumbai – 400093, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
12.01.1994 |
|
|
|
|
Com. Reg. No.: |
11-076024 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.8.792 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH1994PTC076024 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Packing Machines and Consumables. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 120000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track.
Profitability appears to be low. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
Shrenuj House, Ground Floor, A-7, Road No.5, MIDC Andheri (East),
Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-22-61134200 / 42532222 / 61134212 |
|
Fax No.: |
91-22-28389360 |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Head Office : |
Plot No. 237, Ecotech-III, Udyog Kendra - I, Greater Noida, District: GautamBudh Nagar Noida - 201 308, Uttar Pradesh, India |
|
Tel. No.: |
91-120-6405634 |
|
|
|
|
Branch Office : |
Plot 2232, Door No.5, 1st Street, AF Block, Anna Nagar, Chennai - 600 040. Tamilnadu, India. |
|
Tel. No.: |
91-44-26212495 |
|
Fax No.: |
91-44-26212355 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Subhash Chandra Pagaria |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
8/154, Juhu Harshal, JVPD Scheme, Andheri (West), Mumbai – 400049, Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
03.05.1947 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
12.01.1994 |
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DIN No.: |
00716554 |
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Other Directorship
|
|||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Rajeev Seth |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
05.01.1966 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
10.07.2008 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
02262695 |
||||||||||||||||||||||||||||||||||||
|
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|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Prabhat Rajvanshi |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Additional director |
||||||||||||||||||||||||||||||||||||
|
Address : |
138, Panchvati Enclave, Shatabadi Nagar Meerut – 250103, Uttar Pradesh, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
15.07.1969 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
10.01.2012 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
05165353 |
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|
Other Directorship
|
|||||||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Asha Pagaria |
|
57300 |
|
Subhash Chandra Pagaria |
|
200 |
|
Ckearpack Group Limited, Singapore
|
|
821700 |
|
Total |
|
879200 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
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 |
93.46 |
|
Directors or relatives of Directors |
6.54 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Packing Machines and Consumables. |
||||||
|
|
|
||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· Andhra Bank, 46,Juhu Supreme Shopping Centre, 9Th Gulmohar Road, JVPD Scheme, Vile Parle (West), Mumbai - 400049, Maharashtra, India ·
HDFC Bank
Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai –
400013, Maharashtra, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.K. Loonker and Company Chartered Accountants |
|
Address : |
11/13, Botawalala Building, 2nd Floor, Room No.5, Horniman Circle, Fort, Mumbai – 400023, Maharashtra, India |
|
Tel. No.: |
91-22-22673313 |
|
Fax No.: |
91-22-22662574 |
|
PAN.: |
AEKPL4874Q |
|
|
|
|
Associates Company : |
· Clearpack Singapore Pie. Limited · Clearpack Middle East Limited · Clearpack India Private Limited · Clearpack Malaysia SDN BHD · Clearpack PhUipines Pte Limited · Clearpack Thailand Company Limited ·
Pioneer Packaging Systems Company Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
879200 |
Equity Shares |
Rs.10/- each |
Rs.8.792
Millions |
|
|
|
|
|
Out of the above 8,21,700 shares are held by Clearpack Group Limited which is a foreign holding company
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
8.792 |
8.792 |
8.792 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
23.538 |
18.664 |
14.278 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
32.330 |
27.456 |
23.070 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
9.712 |
11.367 |
12.219 |
|
|
2] Unsecured Loans |
1.056 |
1.210 |
1.398 |
|
|
TOTAL BORROWING |
10.768 |
12.577 |
13.617 |
|
|
DEFERRED TAX LIABILITIES |
0.643 |
0.663 |
0.689 |
|
|
|
|
|
|
|
|
TOTAL |
43.741 |
40.696 |
37.376 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
8.338 |
8.064 |
9.703 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.010 |
0.010 |
0.010 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
38.701
|
40.495 |
47.799 |
|
|
Sundry Debtors |
41.201
|
45.497 |
53.751 |
|
|
Cash & Bank Balances |
7.733
|
7.127 |
4.927 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
10.321
|
11.531 |
13.005 |
|
Total
Current Assets |
97.956
|
104.650 |
119.482 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
47.142
|
56.094 |
77.204 |
|
|
Other Current Liabilities |
13.362
|
14.279 |
11.450 |
|
|
Provisions |
2.059
|
1.655 |
3.165 |
|
Total
Current Liabilities |
62.563
|
72.028 |
91.819 |
|
|
Net Current Assets |
35.393
|
32.622 |
27.663 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
43.741 |
40.696 |
37.376 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
269.727 |
240.617 |
214.555 |
|
|
|
Other Income |
2.717 |
0.975 |
12.459 |
|
|
|
Insurance Claim Received |
0.099 |
0.000 |
8.200 |
|
|
|
TOTAL (A) |
272.543 |
241.592 |
235.214 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
50.158 |
47.444 |
50.364 |
|
|
|
Purchases |
142.258 |
116.665 |
114.008 |
|
|
|
Employees Cost |
37.622 |
33.038 |
37.115 |
|
|
|
Repair & Maintenance |
1.127 |
0.612 |
2.309 |
|
|
|
Administrative Expenses |
20.562 |
23.647 |
25.237 |
|
|
|
Selling & Distribution Expenses |
9.101 |
8.206 |
8.089 |
|
|
|
Foreign Exchange Loss/(Gain) |
(1.789) |
(2.138) |
4.797 |
|
|
|
Increase / (Decrease) in Stock |
3.908 |
4.493 |
(6.507) |
|
|
|
TOTAL (B) |
262.947 |
231.967 |
235.412 |
|
|
|
|
|
|
|
|
Less |
PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (A-B) (C) |
9.596 |
9.625 |
(0.198) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.821 |
2.311 |
2.803 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
7.775 |
7.314 |
(3.001) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.176 |
0.963 |
1.078 |
|
|
|
|
|
|
|
|
|
|
PROFIT /
(LOSS) BEFORE TAX (E-F) (G) |
6.599 |
6.351 |
(4.079) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.725 |
1.965 |
0.892 |
|
|
|
|
|
|
|
|
|
|
PROFIT /
(LOSS) AFTER TAX (G-H) (I) |
4.874 |
4.386 |
(4.971) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
17.313 |
12.927 |
17.898 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
22.187 |
17.313 |
12.927 |
|
|
|
|
|
|
|
|
|
|
Earnings / (LOSS) Per Share (Rs.) |
5.54 |
4.99 |
(4.82) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.79
|
1.82 |
(2.11) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.45
|
2.64 |
(1.90) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.61
|
5.63 |
(3.16) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.06 |
(0.03) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.27
|
3.08 |
4.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.57
|
1.45 |
1.30 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
(No) |
|
9] |
Name of person contacted |
(No) |
|
10] |
Designation of contact person |
(No) |
|
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 |
(No) |
|
15] |
Capital in the business |
(Yes) |
|
16] |
Details of sister concerns |
(Yes) |
|
17] |
Major suppliers |
(No) |
|
18] |
Major customers |
(No) |
|
19] |
Payments terms |
(No) |
|
20] |
Export / Import details (if applicable) |
(No) |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
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 |
(Yes) |
|
30] |
Major Shareholders, if available |
(Yes) |
|
31] |
PAN of Proprietor/Partner/Director, if available |
(No) |
|
32] |
Passport No of Proprietor/Partner/Director, if available |
(No) |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
(No) |
Note:
The registered office of the company has been shifted from
Ajanta House, 1st Floor 8/35, Marol Co-Operative Industry Estate, M.
V. Road, Marol Andheri (East), Mumbai – 400059, Maharashtra India to present address
w.e.f. 25.11.2009
OPERATIONS:
During the year, the company embarked
manufacturing of packaging machines due to which Gross Margin has improved.
There has been an overall growth is sales revenue as compared to last year.
This has resulted in Profit Before Tax of Rs.6.599 Millions
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U74999MH1994PTC076024 |
|
Name of the
company |
SHRINK PACKAGING
SYSTEMS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Shrenuj House,
Ground Floor, A-7, Road No.5,Midc Andheri (East), Mumbai – 400093,
Maharashtra, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10330329 |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
HDFC Bank
Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai –
400013, Maharashtra, India |
|
Nature of
instrument creating charge |
Memorandum
Recording Past Transactions of Creation of Mortgage by Delivery of Title
Deeds |
|
Date of
instrument Creating the charge |
31.01.2012 |
|
Amount secured by
the charge |
Rs.19.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest at the
rate as may be communicated by the Bank from time to time. Terms of Repayment On demand. Margin As may be
stipulated by the Bank from time to time. Extent and Operation of the charge The Company created an equitable mortgage by way of
deposit of title deeds in respect of its immovable properties as stated under
item No.15 as security for the due repayment of Rs.19.500 Millions by the
Company including principal amount of the Facility, interest, liquidated
damages, costs, charges and expenses etc. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Immovable
property being 237, admeasuring 898.70 sq. mtrs, Block-Udyog Kendra Extn-1, Sector-Ecotech
111,situated at Greater Noida, District Gautam Budh Nagar, Uttar Pradesh,
India |
|
Particulars of
the present modification |
The Company
created a mortgage by deposit of title deeds in respect of its immovable
property being lying and situated at 237, admeasuring 898.70 sq.mtrs,
Block-udyog Kendra Extn-1, Sector-Ecotech 111, situated at Greater Noida,
District Gautam Budh Nagar, Uttar Pradesh, India as further security for
repayment of monies due and payable under credit facilities of Rs.19.5
Millions sanctioned by the Bank to the Company. |
Fixed Assets
· Office Equipments
· Other Equipments
· Computers
· Furniture and Fixtures
· Vehicles
· Air Conditioners
· Plant And Machinery
· Land And Building
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.55.78 |
|
|
1 |
Rs.86.75 |
|
Euro |
1 |
Rs.68.32 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
43 |
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.