1. Summary Information
|
|
|
Country |
|
|
Company Name |
APOLO EXTRUSIONS
LIMITED |
Principal Name 1 |
Apoorva Ravindrakumar Grover |
|
Status |
Satisfactory
|
Principal Name 2 |
Ravindra Kumar Grover |
|
|
|
Registration # |
11-181451 |
|
Street Address |
6, Hindustan
Kohinoor Industrial Complex, LBS Marg, Vikhroli (west) Mumbai – 400083, |
||
|
Established Date |
23.04.2008 |
SIC Code |
-- |
|
Telephone# |
91-22-25787791 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22-25787793 |
Business Style 2 |
Trader |
|
Homepage |
Not Available |
Product Name 1 |
Ferro Elloys |
|
# of employees |
Not Available |
Product Name 2 |
|
|
Paid up capital |
Rs.4,400,000/- |
Product Name 3 |
-- |
|
Shareholders |
Bodies corporate 89.00% Directors or relatives of
directors 11.00% |
Banking |
State Bank of |
|
Public Limited Corp. |
No |
Business Period |
4 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (42) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding
Company |
|
Ravnar Alloys Private Limited |
|
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
114,363,000 |
Current Liabilities |
339,000 |
|
Inventories |
80,776,000 |
Long-term Liabilities |
166,013,000 |
|
Fixed Assets |
27,440,000 |
Other Liabilities |
1,764,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
168,116,000 |
|
Invest& other Assets |
48,940,000 |
Retained Earnings |
99,003,000 |
|
|
|
Net Worth |
103,403,000 |
|
Total Assets |
271,519,000 |
Total Liab. & Equity |
271,519,000 |
|
Total Assets (Previous Year) |
214,282,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
214,433,000 |
Net Profit |
1,121,000 |
|
Sales(Previous yr) |
179,150,000 |
Net Profit(Prev.yr) |
1,882,000 |
|
Report Date : |
20.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
APOLO EXTRUSIONS LIMITED |
|
|
|
|
Registered
Office : |
6, Hindustan Kohinoor Industrial Complex, LBS Marg, Vikhroli (west)
Mumbai – 400083, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
23.04.2008 |
|
|
|
|
Com. Reg. No.: |
11-181451 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.4.400 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27320MH2008PLC181451 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of Ferro Elloys |
|
|
|
|
No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 410000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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 : |
6, Hindustan Kohinoor Industrial Complex, LBS Marg, Vikhroli (west)
Mumbai – 400083, |
|
Tel. No.: |
91-22-25787791/92 |
|
Mobile No.: |
91-9322203287 (Mr. Udayn Grover) |
|
Fax No.: |
91-22-25787793 |
|
E-Mail : |
|
|
|
|
|
Factory: |
C-54, Udyoog kunj, Panki Site, V. |
|
|
|
|
Admin Office: |
Plot No.22, 84/21 Factory Area, Fazalganj, |
|
Tel. No.: |
91-512-2296870 |
|
Fax No.: |
91-512-2216132 |
|
Email: |
DIRECTORS
As on 30.09.2011
|
Name : |
Apoorva Ravindrakumar Grover |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Designation : |
Director |
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Address : |
Flat No. 602, Panchmahal, Panch Sristhi Complex, Near |
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Date of Birth/Age : |
23.06.1989 |
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Date of Appointment : |
01.01.2011 |
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Din No.: |
03364342 |
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Name : |
Mr. Ravindra Kumar Grover |
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|
Designation : |
Director |
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|
Address : |
Flat No. 602, Panchmahal, Panch Sristhi Complex, Near |
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Date of Birth/Age : |
20.02.1962 |
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Date of Appointment : |
23.04.2008 |
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Din No.: |
00123821 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship
|
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|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Udayan Kumar Grover |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Flat No. 202, Panchmahal, Panch Sristhi Complex, Near |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
09.05.1977 |
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Date of Appointment : |
23.4.2008 |
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Din No.: |
00123813 |
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Other Directorship
|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Ravindra Kumar Grover |
|
22500 |
|
Udayan Grover |
|
22500 |
|
Lilavati Grover |
|
1000 |
|
Anupama Grover |
|
1000 |
|
Nidhi Grover |
|
1000 |
|
Ruchi Grover |
|
1000 |
|
Apoorva Grover |
|
1000 |
|
Ravnar Alloys Private Limited, |
|
390000 |
|
Total |
|
440000 |
As on 30.09.2011
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
89.00 |
|
Directors or relatives of directors |
|
11.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Ferro Elloys |
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
State Bank of ·
Bank of |
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|
Facilities : |
Rs.
in Millions
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Jain Ashwani and Company Chartered Accountant |
|
Address : |
45, Chaman Lal Market, Gumit No. 5, |
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Pan No.: |
AAEFJ461G |
|
|
|
|
Holding Company: |
Ravnar Alloys Private Limited CIN No.:U27100MH2010PTC203080 |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Share |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
440000 |
Equity Share |
Rs.10/- each |
Rs.4.400
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 |
4.400 |
4.400 |
4.400 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
99.003 |
97.882 |
96.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
103.403 |
102.282 |
100.400 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
71.779 |
66.365 |
10.751 |
|
|
2] Unsecured Loans |
94.234 |
38.195 |
0.000 |
|
|
TOTAL BORROWING |
166.013 |
104.560 |
10.751 |
|
|
DEFERRED TAX LIABILITIES |
0.010 |
0.007 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
269.426 |
206.849 |
111.151 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
27.440 |
23.027 |
0.000 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
48.879 |
44.653 |
40.811 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
80.776
|
59.408 |
15.642 |
|
|
Sundry Debtors |
60.327
|
56.971 |
47.021 |
|
|
Cash & Bank Balances |
18.532
|
0.414 |
4.545 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
35.504
|
29.718 |
6.419 |
|
Total
Current Assets |
195.139
|
146.511 |
73.627 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
0.339
|
1.462 |
0.190 |
|
|
Other Current Liabilities |
0.000
|
3.940 |
0.000 |
|
|
Provisions |
1.754
|
2.031 |
3.219 |
|
Total
Current Liabilities |
2.093
|
7.433 |
3.409 |
|
|
Net Current Assets |
193.046
|
139.078 |
70.218 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.061 |
0.091 |
0.122 |
|
|
|
|
|
|
|
|
TOTAL |
269.426 |
206.849 |
111.151 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
Total Income |
|
|
|
|
|
|
|
Income |
214.433 |
179.150 |
56.180 |
|
|
|
Other Income |
6.989 |
4.331 |
1.021 |
|
|
|
TOTAL (A) |
221.422 |
183.481 |
57.201 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
176.282 |
149.929 |
43.971 |
|
|
|
Manufacturing Expenses |
21.829 |
15.613 |
7.556 |
|
|
|
General and Administrative Expenses |
8.424 |
7.694 |
1.997 |
|
|
|
TOTAL (B) |
206.535 |
173.236 |
53.524 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
14.687 |
10.245 |
3.677 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
13.174 |
7.474 |
0.007 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.713 |
2.771 |
3.670 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.091 |
0.048 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1.622 |
2.723 |
3.670 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.501 |
0.841 |
1.270 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1.121 |
1.882 |
2.400 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4.282 |
2.400 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
5.403 |
4.282 |
2.400 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.55 |
4.28 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.50
|
1.03 |
4.20 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.76
|
1.48 |
6.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.72
|
1.61 |
4.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.03 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.63
|
1.09 |
0.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
93.23
|
19.71 |
21.59 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
|
Promoters
background |
Yes |
|
No.
of Employees |
No |
|
Name
of Person Contacted |
No |
|
Designation
of contact person |
No |
|
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
the business |
Yes |
|
Details
of sister concerns |
Yes |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
No |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
REVIEW OF OPERATIONS
The company has posted record results during the
year with total sales and other income 221.423 Millions up form Rs.183.481
Millions
Profit Before tax is lower at Rs.1.622
Millions from 2.723 Millions during the previous year. Similarly, Profit after
tax is lower at Rs.1.121 Millions than during the previous year.
Form : 8
|
Corporate identity number of the company |
U27320MH2008PLC181451 |
|
Name of the company |
APOLO EXTRUSIONS LIMITED |
|
Address of the registered office or of the
principal place of business in |
6, Hindustan
Kohinoor Industrial Complex, LBS Marg, Vikhroli (west) Mumbai – 400083, Email: wizardroc@rediffmail.com |
|
This form is for |
Creation of charge |
|
Type of charge |
·
Movable property (not being pledge) ·
Immovable
Property ·
Book Debts ·
Floating Charge |
|
Particular of charge holder |
Bank of Email: indkan@bankofbaroda.com |
|
Nature of instrument creating charge |
1. Composite Hypothecation Agreement (LDOC
17B) 2. Memorandum of Entry for creation of
Mortgage (LDOC 90F) 3. D.P.Note (2 Nos.) 4. Letter of Instalment with Acceleration |
|
Date of instrument Creating the charge |
31.03.2012 |
|
Amount secured by the charge |
Rs.88.500 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate
of interest Cash Credit and Term Loan -@ 3.50% above Base
Rate at present 14.25% p.a. with monthly rests or at such other rates as may
be notified by the Bank to the Borrower from time to time. Terms
of repayment (i) Working Capital - Repayable on demand. (ii) Term Loan of Rs.10.00 Lacs shall be repayable
in 16 monthly instalments of Rs.62500.00 each commencing from 30.06.2012.
Interest will be serviced as and when applied. Margin 25% on Stocks 40% on Book Debts 25% on LC(I/F) Cash Margin 50% on Term Loan Extent
and Operation of the charge: The Company's movable and immovable
properties as mentioned hereunder (As per Column No.15) are hypothecated and
mortgaged to secure following credit facilities agg.to Rs.88.500 Millions
granted by the Bank to the Borrower:- 1. Cash Credit Rs.60.000 Millions 2. Letter of Credit(I/F) Rs.27.500
Millions 3. Term Loan Rs. 1.000 Millions TOTAL Rs.88.500 Millions |
|
Short particulars of the property or
asset(s) charged (including complete address and location of the property) |
Hypo.of all the Borrower's stocks of raw
materials, WIP, semi finished goods, finished goods, packing materials,
stores etc. lying at the Borrower's godowns at Hypothecation.of all the Borrower's
present and future book debts, outstanding moneys, receivables, claims,
bills, contracts, engagements and securities Hypo. of all tangible movable machinery
& plant of the Borrower together with sparest ools, accessories &
other movable assets lying at the Borrower's godowns at Kanpur or wherever
else or in transit.. Equitable mortgage by deposit of title
deeds of immovable properties situated at Plot No. A-10,UPSIDC Industrial
Area, Panki Site-5, |
|
Particulars of the present modification |
By this Modification the overall limit
secured is reduced to Rs.210.000 Millions. |
FIXED ASSETS:
·
Land
·
Plant and Machinery
·
Sewing Machine
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Electronic Weighting
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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.56.01 |
|
|
1 |
Rs.87.85 |
|
Euro |
1 |
Rs.70.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
BYI |
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 |
|
|
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.