%20LIMITED%20-%20165782%2011-Jan-2012_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
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Report Date : |
11.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
SKM ANIMAL FEEDS
AND FOODS INDIA LIMITED |
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Formerly Known
As : |
S.K.M.S.ENERGY
ANIMAL FEEDS PRIVATE LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
03.07.1981 |
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Com. Reg. No.: |
18-001076 |
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Capital Investment/
Paid-up Capital: |
Rs. 4.962 Millions |
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CIN No.: [Company Identification
No.] |
U01533TZ1981PLC001076 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CMBS05630C |
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PAN No.: [Permanent Account No.] |
AACCS9493E |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and
Exporter of Broiler Feed, Layer Feed and Cattle Feed. |
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No. of
Employees: |
490
(Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
A (62) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 1260000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having fine track.
Financial position of the company appears to be sound. Trade relations are
fair. Business is active. Payments are reported to be regular and as per
commitments. The company can be considered good for normal 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office / Factory : |
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Tel. No.: |
91-424-2500211/25001212/2500213 |
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Fax No.: |
91-424-2500172 |
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E-Mail : |
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Website : |
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Administrative
Office : |
156, |
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Tel. No.: |
91-424-2258212/2258213/2259215 |
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Fax No.: |
91-424-2260933 |
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Corporate Office : |
180, |
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Tel. No.: |
91-424-2258212/2258213/2259215 |
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Fax No.: |
91-424-2260933 |
DIRECTORS
AS ON 30.08.2010
|
Name : |
Mr. S K M Maeilanandhan |
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Designation : |
Chairman |
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Address : |
H 41, Periyar Nagar, Erode – 638001, |
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Date of Birth/Age : |
18.06.1945 |
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Date of Appointment : |
03.07.1981 |
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DIN No. : |
00002380 |
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Directorship in other companies : |
CIN of Company : L01222TZ1995PLC006025 Name of Company : SKM Egg Products Export India Limited Designation : Executive Chairman CIN of Company : U02921TZ1985PTC001572 Name of Company : SKM Farm Engineering Private Limited Designation : Director CIN of Company : U15400MH1982PLC028799 Name of Company : Agrocorpex India Limited Designation : Director |
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Name : |
Mr. M. Chandrasekar |
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Designation : |
Whole Time Director |
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Address : |
H 41, Periyar Nagar, Erode – 638001, |
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Date of Birth/Age : |
24.07.1970 |
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Date of Appointment : |
03.01.1996 |
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DIN No. : |
00002385 |
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Directorship in other companies : |
CIN of Company : L01222TZ1995PLC006025 Name of Company : SKM Egg Products Export India Limited Designation : Director CIN of Company : U02921TZ1985PTC001572 Name of Company : SKM Farm Engineering Private Limited Designation : Director |
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Name : |
Mr. M. Kuttilakshimi |
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Designation : |
Director |
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Address : |
H 41, Periyar Nagar, Erode – 638001, |
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Date of Birth/Age : |
09.06.1947 |
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Date of Appointment : |
03.07.1981 |
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Name : |
C. Shyamala Sharmili |
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Designation : |
Director |
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Address : |
H 41, Periyar Nagar, Erode – 638001, |
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Date of Birth/Age : |
23.12.1974 |
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Date of Appointment : |
27.09.1997 |
KEY EXECUTIVES
|
Name : |
Mr. A. K. Muthusamy |
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Designation : |
Secretary |
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Address : |
17 Keel Thindal, Erode – 638009, |
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Date of Birth/Age : |
20.05.1964 |
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Date of Appointment : |
01.01.2000 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.08.2010
|
Names of Shareholders |
|
No. of Shares |
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Mr. SKM
Maeilanandhan |
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2531 |
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Mr. M.
Chandrasekar |
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2425 |
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Mr. M.
Kuttilakshimi |
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2 |
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Mr. C. Shyamala
Sharmili |
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1 |
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Mr. K. Sharathram |
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1 |
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Mr. P S.
Murugesen |
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1 |
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Mr. C.
Pradeepkrishna |
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1 |
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Total |
|
4962 |
AS ON 30.08.2010
|
Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
|
100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and
Exporter of Broiler Feed, Layer Feed and Cattle Feed. |
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Products : |
Broiler Feed
Layer Feed
Cattle Feed
And Pellet form as
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GENERAL INFORMATION
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No. of Employees : |
490
(Approximately) |
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Bankers : |
Commercial Branch, Erode, Tamil Nadu
Muthaiah Complex,
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Facilities : |
Note :
I.
Secured by hypothecation
of stock-in-trade, raw materials and book debts.
II.
Collaterally
secured by an equitable mortgage on land nad building, hypothecation of plant
and machinery, wind mills and equitable etc.
III.
The above loans
are also by personal guarantee of all the directors of the company
IV.
The
working capital limit has been converted into a foreign currency loan
(FCNR-B).the liability as on 31.03.2009 in US$ 3440100 and preforward contract rate booked. |
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Banking Relations
: |
Good |
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Auditors : |
N C Rajagopal and Company Chartered Accountants, |
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Name : |
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CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
10000 |
Equity Shares |
Rs. 1000/- Each |
Rs. 10.000
Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4962 |
Equity Shares |
Rs. 1000/- Each |
Rs. 4.962 Millions |
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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 |
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|
|
|
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1] Share Capital |
4.962 |
4.962 |
4.962 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
309.409 |
243.501 |
197.653 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
314.371 |
248.463 |
202.615 |
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LOAN FUNDS |
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|
|
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1] Secured Loans |
421.930 |
424.912 |
307.134 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
421.930 |
424.912 |
307.134 |
|
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DEFERRED TAX LIABILITIES |
10.842 |
18.097 |
23.232 |
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|
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TOTAL |
747.143 |
691.472 |
532.981 |
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|
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|
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APPLICATION OF FUNDS |
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|
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|
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|
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FIXED ASSETS [Net Block] |
344.027 |
377.833 |
348.917 |
|
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Capital work-in-progress |
15.885 |
0.000 |
10.575 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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Inventories |
394.291
|
276.130 |
233.929 |
|
|
Sundry Debtors |
62.967
|
51.541 |
56.696 |
|
|
Cash & Bank Balances |
46.351
|
70.569 |
27.129 |
|
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Other Current Assets |
0.000
|
0.074 |
0.000 |
|
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Loans & Advances |
77.030
|
63.037 |
38.574 |
|
Total
Current Assets |
580.639
|
461.351 |
356.328 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Other Current Liabilities |
143.072
|
119.750 |
196.718 |
|
|
Provisions |
50.336
|
46.466 |
23.126 |
|
Total
Current Liabilities |
193.408
|
166.216 |
219.844 |
|
|
Net Current Assets |
387.231
|
295.135 |
136.484 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
18.504 |
37.005 |
|
|
|
|
|
|
|
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TOTAL |
747.143 |
691.472 |
532.981 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5649.968 |
4687.144 |
3205.843 |
|
|
|
Other Income |
70.382 |
53.217 |
88.698 |
|
|
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TOTAL (A) |
5720.350 |
4740.361 |
3294.541 |
|
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase and Manufacturing Expenses |
5480.231 |
4532.499 |
3130.761 |
|
|
|
Payments to and Provision for Employees |
59.173 |
45.155 |
36.140 |
|
|
|
TOTAL (B) |
5539.404 |
4577.654 |
3166.901 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
180.946 |
162.707 |
127.640 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
29.870 |
32.224 |
32.863 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
151.076 |
130.483 |
94.804 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
50.063 |
48.850 |
59.103 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
101.013 |
81.633 |
35.701 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
35.348 |
29.816 |
11.860 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
65.665 |
51.817 |
23.841 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
13.501 |
7.653 |
4.018 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
70.000 |
40.000 |
31.880 |
|
|
|
Dividend |
0.000 |
4.962 |
-- |
|
|
|
Tax on Dividend |
0.000 |
0.851 |
-- |
|
|
BALANCE CARRIED
TO THE B/S |
9.409 |
13.501 |
31.880 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
234.353 |
63.519 |
63.756 |
|
|
TOTAL IMPORTS |
234.353 |
63.519 |
63.756 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
13.23 |
10.44 |
4.85 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.14
|
1.09 |
0.72 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.78
|
1.74 |
1.11 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.92
|
9.72 |
5.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32
|
0.19 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.95
|
2.37 |
2.60 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.00
|
2.77 |
1.62 |
LOCAL AGENCY FURTHER INFORMATION
Form : 8
|
Name of the company |
SKM ANIMAL FEEDS AND FOODS [ |
|
Presented By |
A. K. Muthusamy, Company Secretary |
|
1) Date and description of instrument creating the change |
Common Hypothecation Deed for Loans Dt. 15.02.2005 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 37.500 millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
1. Hypothecation of existing plant & machinery, windmills equipment etc and in respect of the proposed refinery and solvent extraction plants
2. Extension of UREM of the following properties : 1. Property at G. S. No. 383 & 384 at Kethanoor 2. Property at S. F. No. 613/2A-3, 619/1, 619/2/a-1 at Nanjaiuthukuli 3. Property at S. F. No. 456/C, 457/A-1 at Nanjaiuthukuli 4. Property at T. S. No. 96 at Erode 5. Property at T. S. No. 97/P at Erode 6. Property at T. S. No. 95 at Erode 7. Property at R. S. No. 770/1 & 770/2 at Nanjaiuthukuli 8. Property at R. S. No. 132/1A & 133/1 B at Tercaud 9. Property at R. S. No. 630/1 at Nanjaiuthukuli 10. Property at R. S. No. 771 at Nanjaiuthukuli 11. Property at R. S. No. 382, 397 & 399 at Kethanoor 12. Property at R. S. No. 398/1at Kethanoor 13. Property at R. S. No. 772 at Nanjaiuthukuli 14. Property at R. S. No. 616 at Nanjaiuthukuli 15. Property at R. S. No. 616 at Nanjaiuthukuli 16. Property at R. S. No. 613/2A2 at Nanjaiuthukuli 17. Property at R. S. No. 613/2A1 & 1 at Nanjaiuthukuli 18. Property at R. S. No. 391/1,2,3, 456/A, 392, 390/1,2,3 & 394/2 at Kethanoor 19. Property at R. S. No. 305, 306 & 307 at Nanjaiuthukuli 20. Property at House Site No. 47 at Adhiyamankottai 21. Property at House Site No. 48 at Adhiyamankottai 22. Property at 153C, 154/1, 157 at Singanallur, Pollachi |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
1. Operation of charge upto closure of loan account and obtaining of “No Due Certificate” from Syndicate Bank, Erode 2. Interest shall be at rate of 9% p.a. [floating] 3. The entire loan shall be repaid in 20 quarterly instalments of Rs. 1.875 millions per quarter and the first quarterly instalments falls due on 30.09.2006 |
|
5) Name and Address and description of the person entitled to the charge. |
Syndicate Bank 1168, |
|
6) Date and brief description of instrument modifying the charge |
N.A. |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
N.A. |
|
Corporate
identity number of the company |
U01533TZ1981PLC001076 |
|
Name of the
company |
S K M ANIMAL
FEEDS AND FOODS INDIA LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Chavadipalayam Pudur
Roadnanjaiuthukuli Modakkurichi,
Periyar Dt, Tamil Nadu - 638104 |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable property
Book debts Movable property
(not being pledge) |
|
Particular of
charge holder |
Syndicate Bank,
1168 Muthiah Complex, |
|
Nature of
instrument creating charge |
Composite Hypothecation
Agreement Dt. 06-01-2011 |
|
Date of
instrument Creating the charge |
06/01/2011 |
|
Amount secured by
the charge |
Rs. 470.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest : Base Rate Plus
3.25 % For Sodh/Wctl, Fcl At Rates Sanctioned In Each Roll Over And Flc And
Bg As Per Prevailing Rate As And When Lcs Are Estabilised Or Bgs Are Issued. Terms of repayment : Repayment Will Be
Made As When The Bank Demands Margin : Sodh/Wctl-25%,
Flc/Ilc And Bg 10% Extent and operation of the charge : Operation of the
charges upto closure of loan facilities and obtaining of "No Due
Certificate" from Syndicate Bank, Erode. Other : Nil |
|
Short particulars
of the property charged (Including location of the property) |
|
|
Date of
instrument modifying the charge |
20/11/2009 |
|
Particulars of
the present modification |
Total Fund Based
And Non Fund Based Limits Increased From Rs. 430.000 millions To Rs. 470.000
millions |
Fixed Assets :
- Land
- Buildings
- Plant and
Machinery
- Power and
generator
- Equipment and
Appliances
- Vehicles
- Furniture and
Fixtures
- Effluent T.
Plant
- Work in
Progress
As per Website Details :
Profile :
The serious outbreak of Aflatoxin, a deadly plant disease in 1979
prompted Mr. SKM.MAEILANANDHAN to enter into the feed manufacturing business.
They started SKM ANIMAL FEEDS AND FOODS in 1981 and built a feed manufacturing
unit at Nanjaiuthukuli, a rural area in the district of Erode - State of
Mr.SKM. MAEILANANDHAN pioneered the concept of modern marketing in rural
areas quite successfully. They organised
farmers’ meets to study and analyse problems in the market. SKM helped the
farmers in the preparation of project reports for obtaining financial
assistance from banks, provided round-the-clock veterinary services. SKM also
provided a twin advantage to the farmers, by collecting the eggs from farms at
preannounced weekly rates, free of cost and adjust the cost of feed supplied.
It is a kind of modern barter system, pioneered successfully.
The company is a case study on successful implementation of integrated
rural marketing and its impact on rural growth. Long before the pundits of
rural marketing could visualise its impact on the agrarian society, SKM was
Practicing rural marketing which provided round-the-year profitable rural
self-employment to the rural agriculturists and checked their migration to
urban areas.
Management
:
SKM’s founder, Mr. SKM. MAEILANANDHAN was born in a humble
agrarian family and after his high school began his business career as a
merchant, owning a general store. The drive, enthusiasm, determination and
quest for success propelled him from the family vocation of agriculture to
fertilizer distribution. Not content with the success, they diversified into
poultry farming and also became an agent for animal feed manufactured by a
reputed manufacturer. Mr. Maeilanandan moved forward dynamically and in a span
of just over 25 years, has seen his group’s worth rise to over Rs.2,500 million
National
Productivity Award
This award was
selected on the basis of the Productivity performance, profitability of the Agriculture
and Animal feeds processing industry and its contribution to the National
development and growth by the National Productivity Council,
1993 - The award was presented to SKM Shree Sivakumar Executive Director by the
Hon'ble President of India Dr. S.D. Sharma.
1994 -
The award was presented to Dr. M. Chandrasekar Executive Director by the
Hon'ble Prime Minister of India Shri H. D. Deva Gowda.
1995 - The award was presented to Dr. M. Chandrasekar Executive Director by the
Hon'ble President of
Best Tax Payer Award 1994 - 1995
Awarded
in the year 1996 for an exemplary record of prompt tax compliance under the
category as the second highest tax payer in the whole state of Tamil Nadu and was
presented to Thiru SKM. Maeilanandhan Chairman & Managing Director by Thiru
N. Rangachary, I.R.S. Chairman of the Central Board of Direct Tax.
Best Tax Payer Award 1995 - 1996
Awarded
in the year 1997 for an exemplary record of prompt tax compliance under the
category as the first highest tax payer in the whole state of Tamil Nadu and
was presented to Thiru SKM. Maeilanandhan Chairman & Managing Director by
Hon'ble Sri P. Chidambaram, Minister of Finance Government of
The company's fixed assets of important value include land, buildings, plant and machinery, power and generator, equipment and appliances, vehicles, furniture and fixtures, wind mill and effluent treatment plant.
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.52.22 |
|
|
1 |
Rs. 80.83 |
|
Euro |
1 |
Rs. 66.79 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
62 |
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.