|
Report Date : |
05.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
VHCL INDUSTRIES LIMITED [w.e.f. 11.08.2008] |
|
|
|
|
Formerly Known
As : |
VECEE CEMENTOLITES AND INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
B/4, Unique House, Cardinal Gracious Road, Chakala, Andheri (East),
Mumbai – 400099, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
30.11.1978 |
|
|
|
|
Com. Reg. No.: |
11-194917 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.40.203 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L26954MH1978PLC194917 |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
Stock Exchange |
|
|
|
|
Line of Business
: |
Manufacturer of Plastic Granules |
|
|
|
|
No. of Employees
: |
65 [In Office + in Factory] Approximately |
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 550000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Trade relations
are reported as fair. Business is active. Payments are reported to be to
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. Hitendra |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-28365977 |
|
Date : |
03.03.2012 |
LOCATIONS
|
Registered Office : |
B/4, Unique House, Cardinal Gracious Road, Chakala, Andheri (East),
Mumbai – 400099, |
|
Tel. No.: |
91-22-28365977 |
|
E-Mail : |
|
|
|
|
|
Factory : |
S No.285, Gala No. II, Main Kherdi Road, Kherdi, Silvassa, Union
Territory, India |
|
|
|
|
Power Plant : |
Village
Belwa Ranaji, Taluka Shergarh, Dist. Jodhpur, Rajasthan, India |
DIRECTORS
AS ON 26.09.2011
|
Name : |
Mr. Pankaj H Valia |
|
Designation : |
Managing Director |
|
Address : |
55, Vrindavan, Nutan Laxmi Society, 9th Road, JVPD Scheme, Vile
Parle (West), Mumbai – 400056, Maharashtra, India |
|
Date of Birth/Age : |
15.01.1955 |
|
Date of Appointment : |
09.02.2008 |
|
DIN : |
02047350 |
|
|
|
|
Name : |
Mr. Raj Ramnarain Ratnakar |
|
Designation : |
Director |
|
Address : |
D-504, Shri Krishna Darshan Khargaon, Kalwa (West), Thane, |
|
Date of Birth/Age : |
23.05.1971 |
|
Date of Appointment : |
17.02.2004 |
|
DIN : |
00094614 |
|
|
|
|
Name : |
Mr. Rohidas Natha Shinde |
|
Designation : |
Director |
|
Address : |
Building No.47, Room No.1691, Tilak Nagar, Chembur, Mumbai – 400089, |
|
Date of Birth/Age : |
10.04.1963 |
|
Date of Appointment : |
17.02.2004 |
|
DIN : |
00094719 |
|
|
|
|
Name : |
Mr. Prakash J Mehta |
|
Designation : |
Director |
|
Address : |
House No. G – 10/102, Plot No.145, Chetan Villa, 3rd Floor,
Garodia Nagar, Ghatkoper (East), Mumbai – 400077, Maharashtra, India |
|
Date of Birth/Age : |
07.12.1955 |
|
Date of Appointment : |
17.02.2004 |
|
DIN : |
02379406 |
|
|
|
|
Name : |
Mr. Pankaj J Mehta |
|
Designation : |
Director |
|
Address : |
C-405, |
|
Date of Birth/Age : |
04.02.1962 |
|
Date of Appointment : |
06.03.2008 |
|
DIN : |
00821644 |
KEY EXECUTIVES
|
Name : |
Mr. Hitendra |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2011
|
Names of Shareholders |
No. of Shares |
|
Panorama Capital Market Limited, India |
1586884 |
|
Rohan H Mehta |
301000 |
|
V. B. Raol |
281600 |
|
Pawan Kumar |
37800 |
|
Bharti Mukesh Sampat |
35000 |
|
Pawan Kumar |
37800 |
|
Hitesh N Kawa HUF |
15000 |
|
Rachna R Shah |
15000 |
|
Vimap Agarwal |
14400 |
|
Hitesh Natwarlal Kawa |
10000 |
|
Roopal Hitesh Kawa |
10000 |
|
Kaushik Hasmukhlal Gandhi |
10000 |
|
Ajit Kumar Dey |
9200 |
|
Shyam Sunder Saraogi |
8000 |
|
Girish Kumar HUF |
18600 |
|
Shiv Kumar Choudhary |
18400 |
AS ON 26.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Bodies corporate |
57.66 |
|
Directors or relatives of Directors |
13.93 |
|
Other top fifty shareholders |
25.33 |
|
Others |
3.08 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Plastic Granules
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
Arab Countries |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
Reprocessed
Plastic Granules |
MT |
23388 |
15049.089 |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
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No. of Employees : |
65 [In Office + in Factory] Approximately |
||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
State Bank of Saurashtra, Gresham House, Sir P.
M. Road, Fort, Mumbai-400001, Maharashtra, India ·
State Bank of India, Gresham House, Sir P. M. Road, Fort,
Mumbai-400001, Maharashtra, India |
||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sarda Soni and Associates Chartered Accountant |
|
Address : |
13/16, Kapadia Chambers, 599, |
|
Tel. No.: |
91-22-22075288 / 22914166 |
|
Mobile No.: |
91-9819165816 |
|
Fax No.: |
91-22-22075288 |
|
Pan No.: |
AADFS5674D |
|
|
|
|
Asociates : |
Api Industries
Private Limited CIN No.:-
U24139GJ2010PTC061975 UIC Corporation
Private Limited CIN No.:-
U24110GJ2010PTC061974 PMS Exports
Private Limited CIN No.:-
U51900MH2000PTC128903 Unitech
International Limited CIN No.:-
L99999MH1994PLC082810 Gujrat Packaging |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.2/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20101300 |
Equity Shares |
Rs. 2/- each |
Rs. 40.203
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 |
40.203 |
40.203 |
40.203 |
|
|
2] Share Application Money |
0.00 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
98.470 |
55.471 |
24.870 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
138.673 |
95.674 |
65.073 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
173.101 |
182.743 |
0.000 |
|
|
2] Unsecured Loans |
1.381 |
13.429 |
0.000 |
|
|
TOTAL BORROWING |
174.482 |
196.172 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
10.965 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
324.120 |
291.846 |
65.073 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
109.644 |
121.918 |
18.019 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
10.182 |
0.063 |
0.040 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
102.473
|
139.723
|
72.017
|
|
|
Sundry Debtors |
550.553
|
377.867
|
69.711
|
|
|
Cash & Bank Balances |
64.234
|
29.942
|
4.633
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
77.478
|
23.445
|
2.505
|
|
Total
Current Assets |
794.738
|
570.977 |
148.866 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
481.576 |
233.696 |
66.927
|
|
|
Other Current Liabilities |
91.311
|
153.766
|
0.000 |
|
|
Provisions |
17.557
|
13.650
|
34.925
|
|
Total
Current Liabilities |
590.444
|
401.112 |
101.852 |
|
|
Net Current Assets |
204.294
|
169.865
|
47.014
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
324.120 |
291.846 |
65.073 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1589.568 |
887.126 |
251.233 |
|
|
|
Other Income |
5.893 |
0.556 |
0.058 |
|
|
|
TOTAL (A) |
1595.461 |
887.682 |
251.291 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption of Raw Material |
1446.075 |
807.858 |
234.866 |
|
|
|
Manufacturing Service Cost |
8.346 |
7.931 |
0.000 |
|
|
|
Consumption of Stores and Spares |
0.000 |
0.000 |
1.005 |
|
|
|
Power and Fuel |
0.000 |
0.000 |
6.621 |
|
|
|
Employees related Expenses |
2.356 |
2.385 |
1.617 |
|
|
|
Other Expenses |
0.000 |
0.000 |
3.523 |
|
|
|
Administrative, Selling Expenses |
13.606 |
11.598 |
0.000 |
|
|
|
Increased / (Decreased) in stock
|
0.000 |
0.000 |
(15.266) |
|
|
|
TOTAL (B) |
1470.383 |
829.772 |
232.366 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
125.078 |
57.910 |
18.925 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
35.251 |
8.088 |
0.999 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
89.827 |
49.822 |
17.926 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
18.444 |
6.492 |
2.750 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
71.383 |
43.330 |
15.176 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
23.681 |
8.026 |
0.617 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
47.702 |
35.304 |
14.559 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
55.471 |
24.870 |
NA |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
4.020 |
4.020 |
4.020 |
|
|
|
Tax on Proposed Dividend |
0.683 |
0.683 |
0.621 |
|
|
|
|
|
|
|
|
Add |
Excess
provision made in earlier years no longer required written back |
|
|
|
|
|
|
|
Provision for custom penalty |
0.000 |
0.000 |
0.930 |
|
|
|
Provision for duty Penalty [EPCG] |
0.000 |
0.000 |
14.018 |
|
|
BALANCE CARRIED
TO THE B/S |
98.470 |
55.471 |
24.866 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.37 |
1.76 |
0.72 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.99
|
3.98 |
5.79
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.49
|
4.88 |
6.04
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.89
|
6.25 |
9.09
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.51
|
0.45 |
0.23
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.60
|
6.24 |
1.56
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35
|
1.42 |
1.46
|
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. Constructions of the firm |
Yes |
|
4. Premises details |
Yes |
|
5. Type of Business |
Yes |
|
6. Line of Business |
Yes |
|
7. Promoter’s background |
------ |
|
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% |
No |
|
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 |
Yes |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
23. Banking Details |
Yes |
|
24. Banking facility details |
No |
|
25. Conduct of the banking account |
------ |
|
26. Buyer visit details |
------ |
|
27. Financials, if provided |
No |
|
28. Incorporation details, if applicable |
------ |
|
29. Last accounts filed at ROC |
------ |
|
30. Major Shareholders, if available |
------ |
SUNDRY CREDITORS
DETAILS:
|
Particulars |
Rs.
In Millions 31.03.2011 |
Rs.
In Millions 31.03.2010 |
Rs.
In Millions 31.03.2009 |
|
Sundry Creditors
|
|
|
|
|
For Goods, Service, Expenses |
0.000 |
0.000 |
66.475 |
|
Creditors due others |
481.576 |
233.696 |
0.000 |
|
Liability for Expenses |
0.000 |
0.000 |
0.452 |
|
Total |
481.576 |
233.696 |
66.927 |
NOTE:
The registered office address of the company has been shifted from 5 Dr.
Rajendra Prasad Sarani 9th Floor, Kolkata – 700001, West Bengal,
India to P-16,
The registered office address of the company has been shifted from to
P-16,
OPERATIONS:
During the year
the Company achieved a Turnover of Rs. 1589.568 Millions as against Turnover of
Rs.887.126 Millions in the previous year reflecting an increase of 170.187 %.
Other Income earned during the year stood at Rs.5.893 Millions as against
Rs.0.556 Million in the previous year. The profit after Depreciation and Tax was
Rs.47.702 Millions as against profit of Rs. 35.303 Millions in the previous
year.
FAIR VALUTION OF COMPANY SHARES
The Company's
shares are at present listed at Calcutta Stock Exchange and Ahmedabad stock exchange,
However there has not been any trading in shares of the Company at both the
Stock Exchanges since revocation of suspensions in trading of shares by the
said stock Exchanges. The Board of directors of the company, in order to
determine the fair valuation of shares of the company obtained Valuation Report
from Systematix Corporate Services. Limited a SEBI registered Merchant Banker
who have valued the shares of the Company of Paid up value of Rs. 2/- each at
Rs 29 per share.
FORM 8
|
Name of the
company |
VHCL INDUSTRIES
LIMITED |
|
Address of the
registered office or of the principal place of business in |
B/4, Unique
House, Cardinal Gracious Road, Chakala, Andheri (East), Mumbai – 400099, |
|
This form is for |
Creation of
charge |
|
Type of charge |
|
|
Particular of
charge holder |
State Bank Of India, Sir P M Road Branch, Gresham House, Ground Floor,
Sir P M Road , Fort, Mumbai - 400001, Maharashtra, India |
|
Nature of
instrument creating charge |
A) Agreement Of
Hypothecation Of Goods And Assets. Form C.2 B) Letter
Regarding The Grant Of Individual Limits Within The Overall Limit. Formc.5 Both The Above
Documents Constitute A Single Charge. |
|
Date of instrument
Creating the charge |
31.03.2010 |
|
Amount secured by
the charge |
Rs.556.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest -
FOR WC - 1.00 % above SBAR i. e 13.75 % pa with monthly rests. FOR TL - 0.25 %
above SBAR i.e 14.50 % p.a monthly rests, with reset after every two years. Enhanced interest
at 1 % for delayed payment. Terms of
Repayment – Tenor of Term
loan is for 84 months with 12 months moratorium repayment to commence from
April 2011 in 72 monthly installments as under: 71 monthly
installments of Rs 1.050 millions each –Rs.74.550 Millions; Last installment
of Rs.1.450 Millions - Rs.1.450 Millions; Total - Rs. 76.000 millions Margin – Raw Material -
25 % Book Debts/Receivable (cover 90 days)- 40% Letter of
Credit - 10 % Extent and
Operation of the charge Cash Credit Rs. 100.000 Millions Term Loan Rs. 76.000 Millions Letter Of
Credit Rs. 380.000 Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
A first charge by
way of hypothecation of the borrowers entire goods, movables and other assets
present and future including documents of title to goods and other assets,
such as book-debts outstanding, moneys, receivables, including receivables by
way of cash assistance and/or cash incentives under the cash incentive scheme
or any other scheme, claims, including claims by way of refund of custom,
excise duties under the duty drawback credit scheme, or any other scheme. Etc
claims including claims by way of refund of customs/excise duties under the
duty draw back credit scheme or any other excise duties under the duty
drawback credit scheme, or any other scheme. Etc claims including claims by
way of refund of customs/excise duties under the duty draw back credit scheme
or any other the bank. Personal guarantee of Mr. Pankaj Harilal Valia and Mr.
Bharat Harilal Valia |
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. 65.62 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--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 |
YES |
|
--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.