|
Report Date : |
01.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
PAGAN PAINTS AND CHEMICALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
920, Chawla Complex, 1st Floor, D.B. Gupta Road, Karol
Bagh, New Delhi - 110005 |
|
|
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|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
21.03.1994 |
|
|
|
|
Com. Reg. No.: |
55-057993 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 3.453
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1994PTC057993 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELP09169G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP2611R |
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|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Metal Pre-Treatment Chemicals and Industrial,
Automotive and Powder Coating Paints. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 30000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an 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.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
|
|
|
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office / Corporate Office : |
920, Chawla Complex, 1st Floor, D.B. Gupta Road, Karol
Bagh, New Delhi - 110005, India |
|
Tel. No.: |
91-11-28759593 / 28750627 / 28752224
/ 28750843 |
|
Mobile No.: |
91-9811034362 (Mr. J.C. Sharma) 91-9999439639 (Mr. Ankur Sharma) |
|
Fax No.: |
91-11-28759593 / 28750627 / 28752224
/ 28750843 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Pune Branch 1 : |
Office No. 2, Gupta Bhawan, Near Anil Mangal Khryalaya, Kharalwadi,
Pimpri, Pune – 411018, Maharashtra, India |
|
|
|
|
Branch 2 : |
Gate No. 674 , Sonavane Vasti, |
|
|
|
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Factory 1 : |
Village Mankrola P.O. Garhi, Harsaru, Dist. Gurgoan, |
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Tel. No.: |
91-124-2278572/2278036 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Jagdish Chand Sharma |
|
Designation : |
Director |
|
Address : |
E – 3 / 4, Vasant Vihar, |
|
Date of Birth/Age : |
20.02.1955 |
|
Date of Appointment : |
21.03.1994 |
|
DIN No.: |
00176129 |
Other Directorship :
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U74899DL1994PTC057993 |
PAGAN PAINTS AND
CHEMICALS PRIVATE LIMITED |
Director |
21-03-94 |
21-03-94 |
Active |
NO |
|
Name : |
Mr. Ankur Sharma |
|
Designation : |
Director |
|
Address : |
E – 3 / 4, Vasant Vihar, |
|
Date of Birth/Age : |
13.12.1984 |
|
Date of Appointment : |
01.10.2003 |
|
DIN No.: |
00176230 |
Other Directorship :
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U74899DL1994PTC057993 |
PAGAN PAINTS AND
CHEMICALS PRIVATE LIMITED |
Director |
01-10-03 |
01-10-03 |
Active |
NO |
|
Name : |
Mr. Manjeet Sharma |
|
Designation : |
Director |
|
Address : |
E – 3 / 4, Vasant Vihar, |
|
Date of Birth/Age : |
08.06.1962 |
|
Date of Appointment : |
21.03.1994 |
|
DIN No.: |
00176161 |
Other Directorship :
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U74899DL1994PTC057993 |
PAGAN PAINTS AND
CHEMICALS PRIVATE LIMITED |
Director |
21-03-94 |
21-03-94 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Jagdish Chand Sharma |
|
7520 |
|
Manjeet Sharma |
|
25500 |
|
Ankur Sharma |
|
510 |
|
Jagdish Chand Sharma |
|
1000 |
|
Total |
|
34530 |
As on 30.09.2011
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Metal Pre-Treatment Chemicals and Industrial,
Automotive and Powder Coating Paints. |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
Canara Bank, Karol Bagh Branch, Arya Samaj Road, Karol Bagh, New Delhi
– 110005, India |
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Facilities : |
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Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
R.K. Sood and Company Chartered Accountants |
|
Address : |
Flat No.27, Shanker Market, Connaught Circus, |
|
Tel. No.: |
91-11-23412704 / 23412441 |
|
Mobile No.: |
91-9810333008 / 9910946611 |
|
PAN No.: |
AESPS3393A |
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E-Mail : |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs. 100/- each |
Rs 5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
34530 |
Equity Shares |
Rs. 100/- each |
Rs. 3.453
Millions |
|
|
|
|
|
After 30.09.2011
Authorised Capital :
Rs. 15.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 7.493 Millions
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 |
3.453 |
3.453 |
2.453 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
6.436 |
4.982 |
3.219 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
9.889 |
8.435 |
5.672 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
34.989 |
23.190 |
21.133 |
|
|
2] Unsecured Loans |
0.678 |
1.236 |
4.373 |
|
|
TOTAL BORROWING |
35.667 |
24.426 |
25.506 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
45.556 |
32.861 |
31.178 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
13.829 |
15.456 |
17.135 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.138 |
0.139 |
0.126 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
13.421
|
4.296 |
3.320 |
|
|
Sundry Debtors |
60.387
|
50.204 |
44.089 |
|
|
Cash & Bank Balances |
0.853
|
0.191 |
0.112 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
7.073
|
3.941 |
4.328 |
|
Total
Current Assets |
81.734
|
58.632 |
51.849 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
45.189
|
38.252 |
35.830 |
|
|
Other Current Liabilities |
4.141
|
3.114 |
2.102 |
|
|
Provisions |
0.815
|
0.000 |
0.000 |
|
Total
Current Liabilities |
50.145
|
41.366 |
37.932 |
|
|
Net Current Assets |
31.589
|
17.266 |
13.917 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
45.556 |
32.861 |
31.178 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
234.776 |
193.836 |
180.945 |
|
|
|
Other Income |
0.016 |
0.012 |
0.067 |
|
|
|
TOTAL (A) |
234.792 |
193.848 |
181.012 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material consumed |
187.552 |
151.921 |
150.275 |
|
|
|
Manufacturing Expenses |
6.204 |
7.748 |
5.459 |
|
|
|
Personnel Expenses |
19.165 |
13.256 |
9.755 |
|
|
|
Administrative Expenses |
7.974 |
7.897 |
5.108 |
|
|
|
Selling and Marketing Expenses |
7.017 |
5.048 |
3.204 |
|
|
|
TOTAL (B) |
227.912 |
185.870 |
173.801 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
6.880 |
7.978 |
7.211 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.222 |
2.455 |
2.109 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.658 |
5.523 |
5.102 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.389 |
2.705 |
2.991 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2.269 |
2.818 |
2.111 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.815 |
1.055 |
0.975 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1.454 |
1.763 |
1.136 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4.982 |
3.219 |
2.083 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
6.436 |
4.982 |
3.219 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
42.11 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.62
|
0.91 |
0.63 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.97
|
1.45 |
1.17 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.37
|
3.80 |
3.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.33 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
8.68
|
7.80 |
11.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.63
|
1.42 |
1.37 |
LOCAL AGENCY FURTHER INFORMATION
|
Check list by info
Agents |
Available in Report (Yes/ No) |
|
Year of Establishment |
Yes |
|
Locality of the Firm |
Yes |
|
Constitution of the Firm |
Yes |
|
Premises details |
No |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoter’s Background |
Yes |
|
No. of Employees |
No |
|
Name of Person Contacted |
No |
|
Designation of Contact person |
Yes |
|
Turnover of Firm for last three years |
Yes |
|
Profitability for last three years |
Yes |
|
Reasons for variation <> 20% |
------ |
|
Estimation for coming financial year |
No |
|
Capital in the business |
Yes |
|
Details of sister concerns |
No |
|
Major Suppliers |
Yes |
|
Major Customers |
Yes |
|
Payments Terms |
No |
|
Export/ Imports Details (If applicable) |
No |
|
Market Information |
---------- |
|
Litigations that the firm/ Promoters Involved in |
---------- |
|
Banking details |
Yes |
|
Banking Facility Details |
Yes |
|
Conduct of the Banking Account |
----------- |
|
Buyer visit details |
------------ |
|
Financials, if provided |
Yes |
|
Incorporation details is applicable |
Yes |
|
Last Accounts filed at ROC |
Yes |
|
Major Shareholders, if available |
Yes |
Form 8
|
Corporate
identity number of the company |
U74899DL1994PTC057993 |
|
Name of the
company |
PAGAN PAINTS AND
CHEMICALS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
920, Chawla Complex, 1st Floor, D.B. Gupta Road, Karol
Bagh, New Delhi - 110005 |
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
80040038 |
|
Type of charge |
Immovable Property |
|
Particular of
charge holder |
Canara Bank, Karol Bagh Branch, Arya Samaj Road, Karol Bagh, New Delhi
– 110005, India Email: virendradel@gmail.com
|
|
Nature of
description of the instrument creating or modifying the charge |
Letter evidencing
deposit of title deeds along with Schedule A and B |
|
Date of
instrument Creating the charge |
25.01.2012 |
|
Amount secured by
the charge |
Rs. 37.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Extent and Operation of the charge 100 percent. Others The said charge is
mortgage to collaterally secure following credit facilities granted by the
bank to the company:- 1. Cash Credit
limit - Rs. 30.000 Millions 2. Machinery
Loan - I - Rs. 2.500 Millions 3. Can mobile
Loan - Rs. 2.500 Millions 4. Machinery
Loan - II - Rs. 2.500 Millions Total - Rs. 37.500 Millions |
|
Short particulars
of the property charged |
Equitable
mortgage by deposit of title deeds in respect of immovable property of the company
situated at Khewat No. 1922, Mustafil No. 21, Kila No. 1/2(6-12), 2(8-0),
9(8-0), 10/1(6-12), 12(8-0), - - - - 19/2(2-9)
Village Mankrola, Teh. and Distt. Gurgaon together with all buildings,
superstructure, fixed machinery and plant, fixture and fittings thereat. |
|
Particulars of
the present modification |
The amount of
charge over immovable properties of the Company situated at Village Mankrola,
Distt. Gurgaon (Haryana) stands enhanced from Rs 2.500 Millions to Rs. 37.500 Millions to collaterally secure
various credit facilities as detailed in Col. no. 13 (e) granted to/enjoyed
by the Company together with all interests, costs, charges, expenses etc. Other terms and
conditions remain the same. |
FIXED ASSETS:
AS PER WEBSITE DETAILS:
COMPANY PROFILE
Subject An ISO-9001 Company was established in the year 1982 with a firm determination to come out with a positive solution for metal cancer, which can treat, both ferrous and non- ferrous metals against the corrosion and give smooth finish with qualitative durability.
Their philosophy is to be innovative, creative and consistent in the areas of service. They identify the customer’s requirement and provide him with cost effective customized solutions.
Accordingly, PAGAN has wide range of ECO-FRIENDLY products to meet the need of modern sophisticated and high production industries with an established clientele in recognition to their quality, reliability and performance.
PAGAN received the message of global competition and fast
changing environmental conditions well in advance. And today, they have a lush
green open space with well- equipped laboratories and competent staff for
“Total Quality Management system” at their works, located in
In Metal
Pre-treatment chemicals, PAGAN has developed Cold Phosphate for
Dip and Spray line. They are amongst the pioneers to develop Nanotechnology
based metal pre-treatment process in
The mission of minimizing the corrosion as a metal cancer pursued further and a paint division was established to meet the requirement of all major industries. Presently their Industrial and Decorative Paints are friendlier to human beings and environment, under the brand name of Ganpa Paints.
They care for environment. And to protect their clean, green and healthier lifestyle, they have developed technologically advanced shades in, PAGAN Powder Coatings. Moreover, in this no pollutants are released during application and curing of powder, making it more eco-friendly.
More than this, they are promoting their GREEN campaign, to spread awareness in all major industries to plant more trees and to take care of Mother Nature. So that its imbalances such as, global warming and high carbon emissions can be reduced.
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. 56.42 |
|
|
1 |
Rs. 87.37 |
|
Euro |
1 |
Rs. 69.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
ACH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.