|
Report Date : |
02.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
BADDI FOILS PRIVATE LIMITED |
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|
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Registered
Office : |
S-86, Okhla Industrial Area, Phase – II, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
02.02.2005 |
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Com. Reg. No.: |
55-132573 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.6.404
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27203DL2005PTC132573 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELB08361D |
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|
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PAN No.: [Permanent Account No.] |
AACCB5492J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of Aluminium Foils. |
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|
|
|
No. of Employees
: |
Not Available |
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 356000 |
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|
|
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 : |
S-86, Okhla Industrial Area, Phase – II, |
|
Tel. No.: |
91-11-26386969/ 26386495/ 41610579/ 26916495 |
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Fax No.: |
91-11-26383201 |
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E-Mail : |
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Factory : |
Village Theda, |
DIRECTORS
As on 24.09.2011
|
Name : |
Mr. Sanjay Khurana |
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Designation : |
Director |
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Address : |
54, Sukhdev Vihar, |
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Date of Birth/Age : |
05.07.1967 |
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Date of Appointment : |
02.02.2005 |
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DIN No.: |
01055040 |
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Other Directorship :
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|
||||||||||||||||||||||||||||||||||||||||||||||||
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Name : |
Aseem Khullar |
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Designation : |
Director/ Chief Executive Officer |
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Address : |
15/26, Vasant Vihar, |
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Date of Birth/Age : |
45 Years |
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Qualification : |
Graduate |
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Date of Appointment : |
04.04.2011 |
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DIN No.: |
00160658 |
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Other Directorship :
|
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KEY EXECUTIVES
|
Name : |
Aseem Khullar |
|
Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Sanjay Khurana |
|
100 |
|
Geeta Khullar |
|
239840 |
|
|
|
10000 |
|
Aseem Khullar HUF |
|
25010 |
|
Veena Malhotra |
|
10 |
|
Manju Khullar |
|
10 |
|
Meenakshi Bhalla |
|
10 |
|
P.K. Khullar |
|
10 |
|
Reetika Khurana |
|
10 |
|
Aseem Khullar |
|
365400 |
|
Total
|
|
640400 |
As on 24.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Aluminium Foils. |
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
v
Union Bank of India, 9, Shopping Centre-II,
Poorvi Marg, D Block, Vasant
Vihar, New Delhi - 110 057, India v
Punjab National Bank, Nalagarh Branch, Solan, v
State Bank of |
|||||||||||||||||||||||||||
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Facilities : |
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|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Ajay Kapoor and Company Chartered Accountants |
|
Address : |
S-2B, Ansal Utility, Commercial Complex, Paschim Vihar, |
|
Income-tax
PAN of auditor or auditor's firm : |
AAEPK4633K |
CAPITAL STRUCTURE
As on 24.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
640400 |
Equity Shares |
Rs.10/- each |
Rs.6.404
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 |
6.404 |
6.404 |
6.404 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
82.703 |
74.567 |
47.621 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
89.107 |
80.971 |
54.025 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
78.585 |
63.360 |
50.269 |
|
|
2] Unsecured Loans |
18.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
96.585 |
63.360 |
50.269 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
185.692 |
144.331 |
104.294 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
65.369 |
34.931 |
32.023 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
2.222 |
1.849 |
1.474 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
31.812
|
27.517 |
12.974 |
|
|
Sundry Debtors |
121.097
|
121.331 |
85.124 |
|
|
Cash & Bank Balances |
0.229
|
0.318 |
1.262 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
19.977
|
17.205 |
8.262 |
|
Total
Current Assets |
173.115
|
166.371 |
107.622 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
30.223
|
46.640 |
31.708 |
|
|
Other Current Liabilities |
21.115
|
5.724 |
1.858 |
|
|
Provisions |
3.696
|
6.584 |
3.496 |
|
Total
Current Liabilities |
55.034
|
58.948 |
37.062 |
|
|
Net Current Assets |
118.081
|
107.423 |
70.560 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.020 |
0.128 |
0.237 |
|
|
|
|
|
|
|
|
TOTAL |
185.692 |
144.331 |
104.294 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
440.020 |
418.646 |
335.247 |
|
|
|
Other Income |
4.460 |
5.043 |
3.939 |
|
|
|
TOTAL (A) |
444.480 |
423.689 |
339.186 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Consumed |
365.150 |
329.603 |
262.823 |
|
|
|
Manufacturing Expenses |
35.774 |
30.332 |
30.199 |
|
|
|
Administrative & Other Expenses |
6.872 |
7.126 |
5.142 |
|
|
|
Employees Remuneration & Benefits |
14.808 |
12.968 |
9.560 |
|
|
|
Selling Expenses |
2.629 |
2.509 |
2.202 |
|
|
|
TOTAL (B) |
425.233 |
382.538 |
309.926 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
19.247 |
41.151 |
29.260 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7.640 |
7.091 |
5.913 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
11.607 |
34.060 |
23.347 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.244 |
2.011 |
1.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
9.363 |
32.049 |
22.047 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.387 |
5.103 |
3.274 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
7.976 |
26.946 |
18.773 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Tax Adjustment |
(0.160) |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
8.136 |
26.946 |
18.773 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
12.70 |
42.08 |
29.31 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.79
|
7.07 |
5.53 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.13
|
7.66 |
6.58 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.93
|
15.92 |
15.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.40 |
0.41 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.70
|
1.51 |
1.62 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.15
|
2.82 |
2.90 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The registered office of the company has been shifted from 54, Sukhdev Vihar,
RESULTS OF
OPERATIONS:
The company has
achieved a turnover of Rs.440.019 millions in the current year against Rs.418.645
millions in the previous year, representing a growth of 5.11%. This is due to
better performance and Production in Specified Zone U/s 80IC of Income Tax Act,
1961 and due to production in another unit in
OTHER INCOME:
Other Income fall
by Rs.0.582 million in the year ended 31.03.2011 against previous years total
other income of Rs.5.042 millions.
PROFIT BEFORE TAX:
Profit before tax
is Rs.9.363 millions for the year ended 31.03.2011 against Rs.32.049 millions
for the year ended 2010.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U27203DL2005PTC132573 |
|
Name of the
company |
BADDI FOILS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
S-86, Okhla Industrial Area, Phase – II, E-Mail: akapoorca@hotmail.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
0330445 |
|
Type of charge |
Immovable
Property Book Debts Others (Stocks,
BG, Term Loan, Inland/Import LC) |
|
Particular of
charge holder |
Union Bank of India, 9, Shopping Centre-II, Poorvi Marg, D Block, Vasant
Vihar, New Delhi - 110 057, India E-Mail: monishuppal@yahoo.com |
|
Nature of
description of the instrument creating or modifying the charge |
Composite
Hypothecation Deed (SD-20) |
|
Date of
instrument Creating the charge |
13.12.2011 |
|
Amount secured by
the charge |
Rs.183.515
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: CC
(Hypothecation) @ Base Rate+2.25%, UDB/UDBP (LC), Inland LC (DA 90 days) and
LG @ usual , TL-I and II @ Base Rate+2.75% and Term Loan-III @ Base Rate+3%
and Union Miles/Car Loan @ existing interest rate. Terms of
Repayment: Repayable on demand
with interest thereon and Term loan-I and II and Union Miles will be repaid
as per original schedule of repayment. Term Loan -III to be repaid in 84
monthly installments after moratorium period of 10 months from the date of
disbursement. Interest to be serviced on monthly basis. Margin: 1. CC
(Hypothecation) of Rs 55.000 millions @ 25% 2. UDB/UDBP (LC)
of Rs.7.500 millions @ Nil 3. Inland LC (DA
90 days) of Rs.45.000 millions @ 15% 4. BG of Rs.0.500
million @ 15% 5. Term
Loan-I of Rs 0.681 million @ Existing 6. Term Loan-II
of Rs 3.600 millions @ Existing 7. Term Loan-III
of Rs.70.000 millions @ 31.37% 8. Union Miles of Rs.1.234 millions @ Existing Extent and
Operation of the charge and Others: CC -
Hypothecation of Stocks like Aluminium Foils, Poly foils, Aluminium Sheet,
Ruppcaps, Inks, Chemicals etc lying at Village Theda, Tehsil Nalagarh,
District Solan and S-86, Okhla Industrial Area Ph-II, Delhi and Plot No A-590
(B) RIICO Industrial Area, Bhiwadi, Rajasthan or in transit/or elsewhere belonging
to borrower and hypothecation of all Current /movable, fixed assets, P/M,
Book Debts, both present and future of
company UDB/UDBP (LC)-Bills purchased/discounted under LC. BG-Counter
Indemnity and pledge of DRC Inland LC (DA 90
days)- Hypothecation of goods purchased under LC, Documents drawn under LC
and Pledge of DRC.TL-I, II and III-First charge over all existing as well as
proposed FAs of the company and Union Miles-Hypothecation of Vehicle. 50%
interchangeability from LC limit and CC (H) limit subject to availability of
Drawing Power. Personal
Guarantee:- 1. Geeta Khullar 2. Sanjay Khurana 3. Aseem Khullar |
|
Short particulars
of the property charged |
Equitable
Mortgage of factory Land and Building at Village Theda, Tehsil Nalagarh,
District Solan H.P. in the name of the Company. EM of Industrial
Building at S-86,Okhla Phase-II, New Delhi in the name of Shri Aseem Khullar. EM of |
|
Date of latest
modification prior to the present modification |
21.02.2011 |
|
Particulars of
the present modification |
Credit facility
has been increased from Rs.113.555 millions to Rs.183.515 millions [as CC
Hypothecation (Stocks and Book Debts) of Rs.55.000 millions, UDB/UDBP (LC) of
Rs.7.500 millions, Inland LC (DA 90 days) of Rs.45.000 millions, BG of
Rs.0.500 million, TL-I of Rs.0.681 million, Term Loan-II of Rs.3.600 millions
and Term Loan -III of Rs.70.000 millions and Union Miles of Rs.1.234
millions]. |
FIXED ASSETS:
v Land
v Building – Factory
v Plant and Machinery
v Computer
v Furniture and Fixture
v Electrical Fittings
v A.H.U.
v Air Curtain
v Exhaust Fan
v Fire Extinguisher
v Generator
v Motor Cycle
v Car
v Pallets
v Trolley
v Refrigerator
v Air Conditioner
v Water Purifier
v Weighting Machine
v Office Equipment
v Printer
v
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.49.15 |
|
|
1 |
Rs.78.25 |
|
Euro |
1 |
Rs.65.57 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
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.