MIRA
INFORM REPORT
|
Report Date : |
08.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
INTERNATIONAL AGRICULTURAL PROCESSING PRIVATE LIMITED |
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|
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Registered
Office : |
332/5A, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
24.03.1998 |
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|
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Com. Reg. No.: |
18-010866 |
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Capital
Investment / Paid-up Capital : |
Rs. 45.608 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U01513TZ1998PTC010866 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Manufacturer and Exporter of Processed Gherkins. |
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 780000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Latest
financial i.e. 2011-12 are missing from the government department from the
financial of 2011 is seems that the company has incurred a loss. However,
trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for small 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 |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ 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 : |
332/5A, Perenai Road, Musuvanathu, Nilakottai Taluk, District
Dindigul-624219, Tamilnadu, India |
|
Tel. No.: |
91-4543-232304 / 232305 |
|
Fax No.: |
91-4543-233998 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Soundaranayagam Rabindranath |
|
Designation : |
Managing Director |
|
Address : |
332/5A, Perenai Road, Musuvanathu, Nilakottai Taluk, District
Dindigul-624219, Tamilnadu, India |
|
Date of Birth/Age : |
06.05.1956 |
|
Date of Appointment : |
22.06.2005 |
|
DIN No.: |
00018669 |
|
|
|
|
Name : |
Mr. Petrus Joannes Franciscus Uijttewaal |
|
Designation : |
Director |
|
Address : |
Achttienhontapad 2361, MG Warmond The Netherlands |
|
Date of Birth/Age : |
17.02.1950 |
|
Date of Appointment : |
04.04.1998 |
|
Date of Cessation : |
02.12.2011 |
|
DIN No.: |
01469824 |
|
|
|
|
Name : |
Stokman Uijttewaal Mariabernadette Caroline Wilhelmina |
|
Designation : |
Director |
|
Address : |
Achttienhontapad 2361, MG Warmono The Netherlands |
|
Date of Birth/Age : |
17.04.1958 |
|
Date of Appointment : |
30.07.2000 |
|
Date of Cessation : |
02.12.2011 |
|
DIN No.: |
01804454 |
KEY EXECUTIVES
|
Name : |
Mr. Sebastian Kulandairaj |
|
Designation : |
Secretary |
|
Address : |
106, Frenchland, Nar Roo Office Anandagiri, Kodaikanal |
|
Date of Birth/Age : |
03.06.1968 |
|
Date of Appointment : |
20.04.2007 |
|
PAN No.: |
AUNPK7845C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Petrus Joannes Franciscus Uijttewaal |
4560656 |
|
Stokman Uijttewaal Mariabernadette Caroline Wilhelmina |
100 |
|
TOTAL
|
4560756 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Processed Gherkins. |
||||||
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Products : |
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PRODUCTION STATUS (AS ON : 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Processed Gherkins, Cucumbers, Onions and Other Vegetables |
MT |
15000 |
12240 |
-- |
|
Processed Gherkins, Cucumbers, Onions and Other Vegetables in Jars of
Various Capacity and Grades and In Pails |
MT Nos. |
-- |
-- |
3807.744 13713488 |
|
Processed Gherkins, Cucumbers, Onions and Other Vegetables in Barrels |
MT Nos. |
-- |
-- |
2132.160 12077 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
·
ICICI Bank Limited, Cheran Plaza, 1090 Trichy Road,
Coimbatore-641018, Tamilnadu, India |
|
|
|
|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
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|
Name : |
K S Satagopan and Associates Chartered Accountant |
|
Address : |
1st Main Road, Indiranagar, Adayar, Chennai-600020,
Tamilnadu, India |
|
PAN No.: |
AAIPS1663B |
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|
|
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Subsidiaries : |
IAP Farm Services Private Limited CIN No.: - U00011TZ2003PTC010685 |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6500000 |
Equity Shares |
Rs.10/- each |
Rs. 65.000 Millions |
|
|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4560756 |
Equity Shares |
Rs.10/- each |
Rs. 45.608
Millions |
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|
|
|
|
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 |
45.608 |
45.608 |
45.608 |
|
|
2] Share Application Money |
16.309 |
16.309 |
16.309 |
|
|
3] Reserves & Surplus |
133.960 |
153.747 |
127.835 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
195.877 |
215.664 |
189.752 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
79.660 |
80.884 |
68.828 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
79.660 |
80.884 |
68.828 |
|
|
DEFERRED TAX LIABILITIES |
8.850 |
10.570 |
9.420 |
|
|
|
|
|
|
|
|
TOTAL |
284.387 |
307.118 |
268.000 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
118.002 |
110.656 |
89.710 |
|
|
Capital work-in-progress |
0.000 |
3.478 |
0.408 |
|
|
|
|
|
|
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|
INVESTMENT |
0.102 |
0.102 |
0.102 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
71.368
|
79.024 |
50.753 |
|
|
Sundry Debtors |
90.810
|
102.320 |
184.896 |
|
|
Cash & Bank Balances |
13.081
|
14.462 |
3.999 |
|
|
Other Current Assets |
0.299
|
0.602 |
0.303 |
|
|
Loans & Advances |
79.804
|
73.952 |
26.707 |
|
Total
Current Assets |
255.362
|
270.360 |
266.658 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
42.358
|
17.912 |
44.641 |
|
|
Other Current Liabilities |
6.929
|
8.190 |
8.999 |
|
|
Provisions |
39.792
|
51.376 |
35.238 |
|
Total
Current Liabilities |
89.079
|
77.478 |
88.878 |
|
|
Net Current Assets |
166.283
|
192.882 |
177.780 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
284.387 |
307.118 |
268.000 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
385.833 |
435.848 |
511.896 |
|
|
|
Other Income |
32.905 |
46.083 |
34.386 |
|
|
|
TOTAL (A) |
418.738 |
481.931 |
546.282 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
416.787 |
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
416.787 |
402.384 |
453.034 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1.951 |
79.547 |
93.248 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
9.918 |
8.403 |
9.624 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(7.967) |
71.144 |
83.624 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
13.540 |
11.934 |
9.641 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(21.507) |
59.210 |
73.983 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(1.720) |
21.713 |
27.575 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(19.787) |
37.497 |
46.408 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
360.620 |
409.948 |
483.079 |
|
|
TOTAL EARNINGS |
360.620 |
409.948 |
483.079 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
13.348 |
21.953 |
23.473 |
|
|
|
Stores & Spares |
0.094 |
0.187 |
0.976 |
|
|
|
Capital Goods |
1.050 |
26.180 |
3.585 |
|
|
|
Others |
0.339 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
14.831 |
48.320 |
28.034 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(4.34) |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(4.73)
|
7.78 |
8.50 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(5.57)
|
13.59 |
14.45 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(5.76)
|
15.54 |
20.76 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.11)
|
0.27 |
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.91
|
0.78 |
0.88 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.87
|
3.49 |
3.00 |
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) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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 |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
PAST PERFORMANCE
AND FUTURE PROSPECTS
The 672 containers
sold during the last financial year represent a substantial shortfall against
the projected 900 containers, is the lowest since 200304, and reflects an inability
to achieve crop targets. Realisation per container dropped from 6.22 lakhs in
the previous year to 5.74 lakhs due to weak market conditions during the first
three quarters and a high proportion of drums in the sales mix. Inability to
achieve the sales targets combined with rising material costs resulted in the
first loss since 200102.
The continuing favorable reputation of IPA with customers and the
presence of a strong team are factors which will help to improve performance in
2011-12. An ambitious production plan has been put in place which will reduce
unit overheads by increasing factory capacity utilization. Increased production
will be facilitated by improved gherkin yields brought about by the successful
R and D effort in 2010-11 which established it is possible to increase yields
250% under the right conditions.
FORM 8
|
Corporate
identity number of the company |
U01513TZ1998PTC010866 |
|
Name of the
company |
INTERNATIONAL
AGRICULTURAL PROCESSING PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
332/5A, Perenai Road, Musuvanathu, Nilakottai Taluk, District Dindigul-624219, Tamilnadu, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
80030284 |
|
Type of charge |
·
Immovable
property ·
Book
debts ·
Movable
property (not being pledge) ·
Others |
|
Particular of
charge holder |
ICICI Bank Limited, Cheran Plaza, 1090 Trichy Road, Coimbatore-641018, Tamilnadu, India |
|
Nature of
instrument creating charge |
Declaration for
creation of mortgage by deposit of title deeds executed on 16.11.2012. |
|
Date of
instrument Creating the charge |
16.11.2012 |
|
Amount secured by
the charge |
Rs. 150.000 Millions
|
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As per credit
arrangement letter. Terms of repayment As per credit
arrangement letter. Margin For EPC and PCFC:
Uniform margin of 25% against all components of inventory. For Cash credit:
Uniform margin of 25% against all components of inventory.25% Margin on
receivables with cover period of 90 days. Extent and operation of the charge Exclusive charge in
favour of the bank on of the company's entire immovable fixed assets,
specifically land and building. |
|
Short particulars
of the property charged (Including location of the property) |
1.
First
and exclusive charge in favour of the Bank by way of hypothecation of the
company’s entire stocks of raw materials, semi-finished and finished goods,
consumable stores and spares and such other moveable’s including book-debts,
bills whether documentary or clean, outstanding monies, receivables, both
present and future, in a form and manner satisfactory to the Bank. 2.
First
and exclusive Charge on all movable fixed assets of the company both present
and future. 3.
Property
of 13.44 acres of Industrial land in SF. No.332/2 (3.68 acres), 332/3 (2.80
acres), 332/5A( 1.5 acres), 332/5 (1.68 acres), 332/6A (0.5 acre), 332/6B
(0.38 acres) and 341 (2.9 acres) situated at Perenai Road, Musuvanuthu,
Nilakottai-624219 4.
Property
of 7.61 acres land in SF No. 331/1A, 331/1B, 331/1C, 331/2A, 331/2B, 332/4,
Perenai Road, Musuvanuthu, Nilakottai -
624 219. Dindigul District 5.
Property
of 6.11 acres land in SF No. 136, 137 and 138, Perenai Road, Musuvanuthu,
Nilakottai - 624 219. Dindigul
District 6.
Property
of 0.51 acre land in SF No. 297/1A1A and 298/1A1A, New SF
No.297/10&298/6, Annai patti, Pillaiyarnatham Village, Nilakottai,
Dindigul dated |
|
Date of
instrument modifying the charge |
05.03.2012 |
|
Particulars of
the present modification |
The existing
Charge on Current and Movable assets of
the company for various facilities aggregating of Rs 150.0 million stands
modified as follows: Exclusive Charge
on the Current assets, movable and immovable
fixed assets of the company for
the credit facilities of WC and derivative aggregating Rs 150.0 million availed by the company from ICICI Bank
Limited. |
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Office Equipments
·
Data Processing Machine
·
Computers
·
Furniture and Fixtures
·
Vehicles
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. 54.46 |
|
|
1 |
Rs. 87.62 |
|
Euro |
1 |
Rs. 71.11 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
34 |
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.