|
Report Date : |
05.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
C M SMITH AND SONS LIMITED |
|
|
|
|
Registered
Office : |
Dashrath Wadi, Court Road, Nadiad – 387001, Kheda, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
01.06.1998 |
|
|
|
|
Com. Reg. No.: |
04-034205 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.107.268 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17297GJ1998PLC034205 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC9303M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Auto Mobiles Castings |
|
|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1250000 |
|
|
|
|
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.
INFORMATION PARTED BY
|
Name : |
Mr. Jignesh |
|
Designation : |
Maintenance Manager |
|
Contact No.: |
91-9909986917 |
|
Date : |
03.03.2012 |
LOCATIONS
|
Registered Office/ Factory : |
Dashrath Wadi, Court Road, Nadiad – 387001, Kheda, |
|
Tel. No.: |
91-268-2567285/ 2566061 |
|
Mobile No.: |
91-9909986928 |
|
Fax No.: |
91-268-2550094/ 2550094 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Located at:
|
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Madhuben Ratilal Smith |
|
Designation : |
Director |
|
Address : |
Madhukunj, Alkapuri – 387001, Nadiad, |
|
Date of Birth/Age : |
08.08.1934 |
|
Date of Appointment : |
30.06.2007 |
|
DIN No.: |
00610314 |
|
|
|
|
Name : |
Mr. Ratilal Chimanlal Smith |
|
Designation : |
Director |
|
Address : |
Madhukunj, Alkapuri – 387001, Nadiad, |
|
Date of Birth/Age : |
18.03.1930 |
|
Date of Appointment : |
01.06.1998 |
|
DIN No.: |
00610322 |
|
|
|
|
Name : |
Mr. Ashwin Ratilal Smith |
|
Designation : |
Director |
|
Address : |
Madhukunj, Alkapuri – 387001, Nadiad, |
|
Date of Birth/Age : |
10.02.1962 |
|
Date of Appointment : |
01.06.1998 |
|
DIN No.: |
00610342 |
KEY EXECUTIVES
|
Name : |
Mr. Jignesh |
|
Designation : |
Maintenance Manager |
|
|
|
|
Name : |
Mrs. Rashmin Smith |
|
Designation : |
C.T.O |
|
Email : |
|
|
|
|
|
Name : |
Mr. Svapnesh Parikh |
|
Designation : |
GM Admin and Sales |
|
Email : |
|
|
|
|
|
Name : |
Mr. Bikash Singhi |
|
Designation : |
DGM Sales and Marketing |
|
Email : |
|
|
|
|
|
Name : |
Mr. Dipesh Mistry |
|
Designation : |
GM Production |
|
Email : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Ratilal Chiijanlal Smith |
|
5754325 |
|
Ashwin Ratital Smith |
|
376600 |
|
Madhuben Ratilal Smith |
|
2411325 |
|
Nitaben Ashwin Smith |
|
632750 |
|
Ratilal Chiiianlal Smith
(Huf) |
|
37500 |
|
Ashwin Mtilal Smith { Huf) |
|
1175000 |
|
Dharamvir Ratilal Smith ( Huf) |
|
125000 |
|
Balaji Engitech Private Limited |
|
162500 |
|
Dinesh J Patel |
|
39300 |
|
Krijtarth Mistry |
|
12500 |
|
TOTAL |
|
10726800 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
Percentage |
|
Bodies corporate |
1.51 |
|
Directors or relatives of Directors |
98.49 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Auto Mobiles Castings |
|
|
|
|
Products : |
Auto Parts |
|
|
|
|
Exports : |
|
|
Products : |
Auto Mobiles Castings |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit (30 Days) |
|
|
|
|
Purchasing : |
L/C and Cash |
PRODUCTION STATUS
As on 31.03.2011
|
Particulars |
Unit |
Actual
Production |
|
|
|
|
|
Clutch Hsg. |
Nos. |
1,66,548 |
|
Brake Drum |
Nos. |
2,22,197 |
|
Flywheel Hsg. |
Nos. |
61,872 |
|
|
|
|
GENERAL INFORMATION
|
Customers : |
Manufacture
|
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
No. of Employees : |
200 (Approximately) |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||||||||
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Manubhai and Company Chartered Accountant |
|
Address : |
B Wing, 2nd Floor, Premium House, Near Gandhigram Railway
Station, Ahmedabad – 380009, |
|
PAN.: |
AAFFM2086H |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
11000000 |
Equity Shares |
Rs.10/- each |
Rs.110.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10726800 |
Equity Shares |
Rs.10/- each |
Rs.107.268
Millions |
|
|
|
|
|
Footnotes
(A) (Of the above -
(1) 6273000/- shares were issued by capitalization of amalgamation reserve and accumulated balance in profit and loss account as bonus shares and
(2) 2182000/- shares were issued to the shareholders of erstwhile Shri Madhu Autocast Private Limited a Smith Technocast Private Limited on Amalgamation)
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 |
107.268 |
107.268 |
105.375 |
|
|
2] Share Application Money |
1.900 |
1.000 |
7.860 |
|
|
3] Reserves & Surplus |
203.998 |
125.063 |
63.436 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
313.166 |
233.331 |
176.671 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
857.845 |
642.252 |
607.629 |
|
|
2] Unsecured Loans |
98.227 |
95.489 |
74.050 |
|
|
TOTAL BORROWING |
956.072 |
737.741 |
681.679 |
|
|
DEFERRED TAX LIABILITIES |
75.695 |
44.301 |
32.386 |
|
|
|
|
|
|
|
|
TOTAL |
1344.933 |
1015.373 |
890.736 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
740.280 |
708.118 |
701.678 |
|
|
Capital work-in-progress |
94.581 |
29.622 |
11.002 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.262 |
0.262 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
408.535
|
222.842 |
127.718 |
|
|
Sundry Debtors |
223.343
|
149.665 |
67.622 |
|
|
Cash & Bank Balances |
25.205
|
6.689 |
12.046 |
|
|
Other Current Assets |
1.949
|
3.116 |
0.915 |
|
|
Loans & Advances |
116.980
|
44.445 |
48.912 |
|
Total
Current Assets |
776.012
|
426.757 |
257.213 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
250.517
|
141.089 |
77.837 |
|
|
Other Current Liabilities |
0.581
|
4.764 |
0.867 |
|
|
Provisions |
14.842
|
3.533 |
0.715 |
|
Total
Current Liabilities |
265.940
|
149.386 |
79.419 |
|
|
Net Current Assets |
510.072
|
277.371 |
177.794 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1344.933 |
1015.373 |
890.736 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1685.379 |
1020.928 |
480.564 |
|
|
|
Other Income |
9.491 |
9.081 |
12.905 |
|
|
|
TOTAL (A) |
1694.870 |
1030.009 |
493.469 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
1105.004 |
644.681 |
291.430 |
|
|
|
Manufacturing service costs |
181.642 |
132.774 |
159.752 |
|
|
|
Employee related expenses |
120.898 |
85.806 |
0.000 |
|
|
|
Administrative selling other expenses |
21.963 |
12.331 |
0.000 |
|
|
|
Prior period items |
1.917 |
1.253 |
0.602 |
|
|
|
TOTAL (B) |
1431.425 |
876.845 |
451.784 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
263.446 |
153.164 |
41.685 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
111.162 |
80.734 |
40.021 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
152.284 |
72.430 |
1.664 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
37.268 |
34.856 |
26.224 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
115.016 |
37.574 |
(24.560) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
36.080 |
11.915 |
17.973 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
78.936 |
25.659 |
(42.533) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
73.420 |
47.761 |
95.653 |
|
|
|
|
|
|
|
|
|
|
Bonus
Share Issued |
0.000 |
0.000 |
5.359 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
152.355 |
73.420 |
47.761 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
NA |
18.613 |
47.432 |
|
|
TOTAL EARNINGS |
NA |
18.613 |
47.432 |
|
|
|
|
|
|
|
|
|
|
Earnings/loss
Per Share (Rs.) |
7.36 |
2.42 |
(4.04) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.66
|
2.49 |
(8.62) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.82
|
3.68 |
(5.11) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.59
|
3.31 |
2.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37
|
1.61 |
(0.14) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.90
|
3.80 |
4.31 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.92
|
2.86 |
3.24h |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF
CREDITORS
Rs. in millions
|
Particulars |
31.03.2011
|
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
Creditors due small micro enterprises |
0.000
|
0.000 |
0.000 |
|
Creditors due others |
250.517
|
141.089 |
77.837 |
|
TOTAL |
250.517
|
141.089 |
77.837 |
|
Check list by Info Agents |
Available in Reports ( Yes/No) |
|
Yes |
|
Yes |
|
Yes |
|
Yes |
|
Yes |
|
Yes |
|
-- |
|
Yes |
|
Yes |
|
Yes |
|
Yes |
|
No |
|
-- |
|
No |
|
Yes |
|
No |
|
No |
|
No |
|
Yes |
|
Yes |
|
-- |
|
-- |
|
Yes |
|
No |
|
-- |
|
-- |
|
No |
|
-- |
|
-- |
|
-- |
FORM 8
|
Corporate
identity number of the company |
U17297GJ1998PLC034205 |
|
Name of the
company |
C M SMITH AND
SONS LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Dashrath Wadi, Court Road, Nadiad – 387001, Kheda, Email: info@cmsmith.in |
|
This form is for |
Modification of charge
|
|
Charge
identification (ID) number of the charge to be modified |
10085855 |
|
Type of charge |
|
|
Particular of
charge holder |
State Bank of Email : dipak.parmar@sbi.co.in |
|
Nature of
instrument creating charge |
Fifth supplemental joint deed of hypothecation executed on dated 07.12.2011. Extension of equitable mortgage executed on dated 07.12.2011. |
|
Date of
instrument Creating the charge |
07.12.2011 |
|
Amount secured by
the charge |
Rs.1392.400
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest (a)SBI-(i)
WC-3.50% above (ii) TL-4.75% above BR (BR=10%) (b)
IB-(i)OCC-13.50%p.a (ii)TL-14.75% p.a. presently (c) BOB-(i)
CC-3.50% above BR (ii) TL-4% above BR (d) SCB--As
agreed by and with the bank Terms of
Repayment (a) Working
capital-(SBI, IB, BOB, SCB)-Repayable on demand. (b) TL
Old-(SBI,IB,BOB)-As per existing terms and conditions of sanction (c) Corporation. TL-II
New-(SBI) - Rs.50.000 millions repaid in 8 Qtly. Installment commencing from
Dec.12 as per repayment schedule - (BOB)-Rs.20.000 millions repaid in 8 Qtly.
Installments commencing from
Dec.12,1st installments started from Dec-12 as per repayment schedule Margin SBI : RM-25%,SFG/FG-25%,Store and consumable-25%,
BD-40%,LC-10% and BG-15% Indian Bank : Stocks-25%,BD-40%,MTL- 25% and EPC/FCPC
Import /Inland LC-10% Bank of SCB : As agreed
by and with the bank from time to time Extent and
Operation of the charge (i)
1st
pari passu charge in favour of working capital lenders SBI,BOB,IB and SCB
over hypothecation of entire chargeable current assets (ii)
1st
pari passu charge in favour of term loan lenders SBI,BOB and IB over
hypothecation of plant and machineries (iii)
1st
pari passu charge in favour of term loan lenders SBI,BOB and IB and 2nd pari
passu charge in favour of working capital lenders SBI,BOB,IB and SCB on
immovable properties as mentioned in Part A,B, and C (iv)
1st
pari passu charge in favour SBI,BOB,IB and SCB on immovable Others -properties as
mentioned in Part E and F of second schedule of extension of equitable
mortgage with SBI appointed as Lead Bank of SBI Consortium’s is also acting
for and on behalf of IB,BOB and SCB to hold and retain the documents of title
deeds, with intent to create security thereon for the due repayment. The overall
credit facilities secured as under (a) SBI
-Rs.651.800 millions (b)
BOB-Rs.375.900 millions (c) IB -Rs.264.700 millions (d)SCB
-Rs.100.000 millions making overall
aggregate credit facilities of Rs.1392.400 millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation all
current assets stocks of RM, SFG, FG, consumable store, spares and stocks
acquired under inland/import L/C transaction, Bills, receivable, Book debts
and all other movables of the borrower Hypothecation of
all fixed or movable plant and machineries purchase/or acquired out of Bank
finance both present and future of the company. All of the above
lying at factory situated at (i) Dashrath wadi, Court Road, Nadiad (ii) Plot No.70
and 71,Village Zak, Taluka -Dehgam, District Gandhinagar (iii) Village at
Bhumel, Taluka-Nadiad, Dist-Kedha and Shed No.5,6,7 on plot no. 8,9 and 14 of
GIDC Estate, Nadiad, District-Kheda (Gujarat) NA land bearing
S.No.2364/2,2364/8/C,2375 and 2384/A situate at Nadiad Kakarkhand along with
all constructions, superstructure NA land bearing
Block no.424/B,adms.17402 sq.mtrs. also consisting of constructed commercial
premises adms.2456.50 sq.mtrs of Village-Bhumal, Tal-Nadiad, Dist-Kheda NA land bearing
Block no.70,adms.12105 sq.mtrs and Block no.71,adms.12343 sq.mtrs of Mouje Zak
of Dehgam in the registration district of Gandhinagar Non agricultural
land bearing C/3 Type Industrial Shed No.5 and 6 on P.no.8 and 9,adms.about
2090 sq.mtrs.R.S.No.2485/p Kiledar party, GIDC industrial estate, Nadiad,
Dist-Kheda Non agricultural
land bearing C/3 Type Industrial shed no.7 on P.no.14,adms.about 1080
sq.mtrs. R.S. No. 2485/p,Kiledar party,GIDC industrial Estate, Nadiad,
Dist-Kheda |
|
Date of
instrument modifying the charge |
15.07.2011 |
|
Particulars of
the present modification |
The original
charge IDNo.10085855 created on 24.11.07 for Rs.582.100 millions was modified
from time to time and lastly modified
on 15.07.11 to Rs.1222.100 millions is now being further modified on 07.12.11
to Rs.1392.400 millions by sanction of additional limit as under (a)SBI- (i)CC-18.500
millions (ii)BG-30.000
millions (iii)CEL-5.300
millions (iv)Corp.Loan-50.000
millions (b) BOB-Corp
loan-20.000 millions (c) IB-CC-31.500
millions (ii)LC-15.000
millions Now aggregate limit
extend to Rs.1392.400 millions as under (a)SBI-Rs.651.800
millions (b)BOB-Rs.375.900
millions (c)IB-Rs.264.700
millions (d)SCB-Rs.100.000
millions |
CONTINGENT
LIABILITIES:
As on 31.03.2011
Bills Discounted Rs.32.224 Millions (Previous Year of
Rs.30.000 Millions)
FIXED ASSETS
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.49.35 |
|
|
1 |
Rs.78.68 |
|
Euro |
1 |
Rs.65.63 |
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 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.