MIRA
INFORM REPORT
|
Report Date : |
21.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
CHLORIDE METALS LIMITED (w.e.f 01.12.2008) |
|
|
|
|
Formerly Known
As : |
TANDON METALS LIMITED (w.e.f. 04.01.2008) TANDON METALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Exide House, 59E, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
14.12.1998 |
|
|
|
|
Com. Reg. No.: |
11-013126 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.53.461 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300PN1998PLC013126 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEC07714A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCT0740L |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of lead and lead alloys |
|
|
|
|
No. of Employees
: |
320 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 790000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Exide Industries Limited, 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.
INFORMATION PARTED BY
|
Name : |
Mr. Rajendra Bagade |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9673334718 |
|
Date : |
20.06.2012 |
LOCATIONS
|
Registered Office : |
Exide House, 59E, Chowringhee Road, Kolkata – 700020, West Bengal,
India |
|
Tel. No.: |
91-2135-305808 |
|
Mobile No.: |
91-9673334718 (Mr. Rajendra) |
|
Fax No.: |
91-2135-305800 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Admin Office : |
Gat No. 1241-1242, Markal, Taluka Khed, District Pune, Markal Pune –
412105, |
|
Tel. No.: |
91-20-27123007 |
DIRECTORS
As on 11.07.2011
|
Name : |
Mr. Thamarathiruthi Venkateswaran Ramanathan |
|
Designation : |
Chairman |
|
Address : |
9 Woddlands Syndicate, 8/7, |
|
Date of Birth/Age : |
08.07.1945 |
|
Qualification : |
Chartered Accountant and Company Secretary |
|
Date of Appointment : |
31.10.2007 |
|
DIN No.: |
00012249 |
|
|
|
|
Name : |
Mr. Paban Kumar Kataky |
|
Designation : |
Director |
|
Address : |
Flat No. 33 and 34, |
|
Date of Birth/Age : |
15.07.1948 |
|
Qualification : |
B.E.(Electrical) |
|
Date of Appointment : |
31.10.2007 |
|
DIN No.: |
00012343 |
|
|
|
|
Name : |
Mr. Asish Kumar Mukherjee |
|
Designation : |
Director |
|
Address : |
31 Woodlands Syndicate 8/7, |
|
Date of Birth/Age : |
14.05.1961 |
|
Qualification : |
Chartered Accountant and Cost Accountant |
|
Date of Appointment : |
31.10.2007 |
|
DIN No.: |
00131626 |
|
|
|
|
Name : |
Dr. Subhas Ajay Chalasani |
|
Designation : |
Additional Director |
|
Address : |
13, D L Khan Road Alipore, Kolkata – 700020, West |
|
Date of Birth/Age : |
09.12.1955 |
|
Qualification : |
PHD |
|
Date of Appointment : |
11.08.2010 |
|
DIN No.: |
03344619 |
|
|
|
|
Name : |
Mr. Nadeem Kazim |
|
Designation : |
Director |
|
Address : |
15 A, Minto Park Syndicate, 13 DL Khan Road, Alipore Road, Kolkata –
700027, West Bengal, India |
|
Date of Birth/Age : |
26.01.1964 |
|
Qualification : |
B.A (Arts), Post Graduate Diploma in Personnel Management |
|
Date of Appointment : |
11.08.2010 |
|
DIN No.: |
03152081 |
KEY EXECUTIVES
|
Name : |
Mr. Rajendra Bagade |
|
Designation : |
Accounts Manager |
|
|
|
|
Name : |
Mr. Arunito Ganguly |
|
Designation : |
Company Secretary |
|
Address : |
1/D, |
|
Date of Birth/Age : |
11.12.1974 |
|
Date of Appointment : |
14.12.2009 |
|
Pan No.: |
AFSPG2216F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 11.07.2011
|
Names of Shareholders |
|
No. of Shares |
|
Exide Industries Limited – India |
|
5346094 |
|
Ramanathan Venkateswaran Thamarathiruthi |
|
1 |
|
Chatterjee Gautam |
|
1 |
|
Kataky Kumar Paban |
|
1 |
|
Mittal Kumar Surendra |
|
1 |
|
Mukherjee Kumar Asish |
|
1 |
|
Cooner Supriya |
|
1 |
|
Total |
|
5346100 |
As on 15.12.2011
|
Names of Allottee |
|
No. of Allotted |
|
Exide Industries Limited, India |
|
9653900 |
|
Total |
|
9653900 |
As on 11.07.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of lead and lead alloys |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cash / Credit (30 Days / 60 Days) |
||||
|
|
|
||||
|
Purchasing : |
Cash / Credit (30 Days / 60 Days) |
PRODUCTION STATUS (As On 31.03.2010)
|
Particulars |
Unit |
Installed
Capacity |
|
Lead and Lead Alloys |
|
|
|
Co’s |
MT |
22267 |
|
Customer |
MT |
4351 |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
320 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Natvarlal Vepari and Company Chartered Accountants |
|
Address : |
12 K, Oricon House, 4th Floor, 12, K. Dubesh Marg, Mumbai –
400023, |
|
PAN.: |
AAAFN2322E |
|
|
|
|
Fellow Subsidiaries : |
|
|
|
|
|
Holding Company : |
CIN: L31402WB1970PLC014919 |
CAPITAL STRUCTURE
After 11.07.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5346100 |
Equity Shares |
Rs.10/- each |
Rs.53.461
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 |
53.461 |
53.461 |
53.461 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
145.962 |
232.324 |
154.949 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
199.423 |
285.785 |
208.410 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
77.930 |
96.444 |
110.251 |
|
|
2] Unsecured Loans |
26.897 |
27.125 |
27.125 |
|
|
TOTAL BORROWING |
104.827 |
123.569 |
137.376 |
|
|
DEFERRED TAX LIABILITIES |
10.960 |
7.741 |
9.165 |
|
|
|
|
|
|
|
|
TOTAL |
315.210 |
417.095 |
354.951 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
256.924 |
243.810 |
157.520 |
|
|
Capital work-in-progress |
1.826 |
2.775 |
8.225 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
504.263
|
375.701 |
196.618 |
|
|
Sundry Debtors |
2.405
|
9.140 |
21.211 |
|
|
Cash & Bank Balances |
0.591
|
36.892 |
0.633 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
174.351
|
110.750 |
6.435 |
|
Total
Current Assets |
681.610
|
532.483 |
224.897 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
399.236 |
255.218 |
33.083 |
|
|
Other Current Liabilities |
13.272
|
3.235 |
2.436 |
|
|
Provisions |
213.642
|
103.520 |
0.172 |
|
Total
Current Liabilities |
626.150
|
361.973 |
35.691 |
|
|
Net Current Assets |
56.460
|
170.510 |
189.206 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
315.210 |
417.095 |
354.951 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3812.760 |
2395.853 |
1527.909 |
|
|
|
Other Income |
2.174 |
2.233 |
2.079 |
|
|
|
TOTAL (A) |
3814.934 |
2398.086 |
1529.988 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
3371.691 |
2050.440 |
|
|
|
|
Manufacturing service costs |
158.853 |
106.415 |
1436.950 |
|
|
|
Employee related expenses |
18.258 |
15.623 |
|
|
|
|
Administrative selling other expenses |
37.018 |
31.272 |
|
|
|
|
TOTAL (B) |
3585.820 |
2203.750 |
1436.950 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
229.114 |
194.336 |
93.038 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
14.229 |
7.612 |
11.175 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
214.885 |
186.724 |
81.863 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
16.974 |
35.748 |
8.553 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
197.911 |
150.976 |
73.310 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
66.219 |
51.576 |
27.571 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
131.692 |
99.400 |
45.739 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
157.848 |
86.584 |
40.845 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
15.000 |
12.500 |
0.000 |
|
|
|
Interim Dividend paid |
133.653 |
-- |
0.000 |
|
|
|
Dividend |
53.461 |
13.365 |
0.000 |
|
|
|
Tax on Dividend |
30.819 |
2.271 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
56.607 |
157.848 |
86.584 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Lead and Lead Alloys |
2.628 |
7.237 |
2.476 |
|
|
TOTAL EARNINGS |
2.628 |
7.237 |
2.476 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
108.834 |
142.370 |
|
|
|
Spares and Consumables |
NA |
0.448 |
0.414 |
|
|
|
Machinery |
NA |
53.667 |
0.000 |
|
|
TOTAL IMPORTS |
NA |
162.949 |
142.784 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
24.63 |
18.59 |
8.56 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
4810.000 |
Expected Sales (2012-13) : Rs.5500.000 Millions
The above information has been parted by Mr. Rajendra Bagade
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.45
|
4.14 |
2.99 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.19
|
6.30 |
4.80 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.09
|
19.45 |
19.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.99
|
0.53 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.67
|
1.70 |
0.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.09
|
1.47 |
6.30 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
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 |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
DETAILS
OF SUNDRY CREDITORS:
Rs.
In Millions
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Micro small and medium enterprise |
23.774 |
23.269 |
0.000 |
|
- Others |
375.462 |
231.949 |
33.083 |
|
Total |
399.236 |
255.218 |
33.083 |
Note:
The registered office of the company has been shifted from Gat No. 1241 - 1242 Markal Taluka: Khed
Dist: Pune Markal Pune - 412105, Maharashtra, India to present
address w.e.f. 18.04.2012
OPERATIONS:
The Company has achieved a net turnover of Rs.3814.900 Millions representing a growth of 59% over the previous year. Profit before Tax at Rs.197.900 Millions and Profit after tax at Rs.131.700 Millions is 31% and 32% higher respectively than that recorded in the previous year. This significant growth has been made possible due to several steps taken by the Company for increasing production, smelting and refining operations through investment in balancing equipment and technical improvements
CONTINGENT
LIABILITIES NOT PROVIDED FOR IN RESPECT OF:
Rs.
In Millions
|
|
31.03.2011 |
31.03.2010 |
|
a) Other money for which the company is contingently liable for tax,
excise, customs and other matters not accepted by the company |
0.647 |
0.647 |
|
Claims not acknowledged as debts |
Not
Ascertainable |
|
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U34300PN1998PLC013126 |
|
Name of the
company |
CHLORIDE METALS
LIMITED |
|
Address of the
registered office or of the principal place of business in |
Exide House, 59E, Chowringhee Road, Kolkata – 700020, West Bengal,
India |
|
This form is for |
Creation
of charge |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel
(West), Mumbai – 400013, Maharashtra, India |
|
Nature of
instrument creating charge |
Memorandum
Relating To Hypothecation of Machinery |
|
Date of
instrument Creating the charge |
02.09.2009 |
|
Amount secured by
the charge |
Rs. 50.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest @ 8.50%
P.A. Terms of Repayment Bullet Repayment
On 01.08.2012 Extent and Operation of the charge Hypothecation By
Way Of Exclusive First Charge On Plant and Machinery Consisting Of Battery Breaking
Machinery Installed At Gat No. 1241/1242, Markal, Taluka Khed, Dist. Pune- 412105 |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation By
Way Of Exclusive First Charge On Plant and Machinery Consisting Of Battery
Breaking Machinery Installed At Gat No. 1241/1242, Markal, Taluka Khed,
Dist. Pune- 412105 |
FIXED ASSETS:
- Freehold land
- Building
- Plant and machinery
- Motor vehicles
- Computers
- Furniture and fixtures
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.86 |
|
|
1 |
Rs.87.93 |
|
Euro |
1 |
Rs.70.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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.