1. Summary Information
|
|
|
Country |
India |
|
Company Name |
L. S. MILLS
LIMITED |
Principal Name 1 |
Mr. Prabhaakaran Harshavardhanaa |
|
Status |
Moderate |
Principal Name 2 |
Mr. Devi Aishwarya Manivannan |
|
|
|
Registration # |
18-009973 |
|
Street Address |
L S Mills
Premises, Madurai Road, Theni – 625 531, Tamilnadu |
||
|
Established Date |
18.04.1983 |
SIC Code |
-- |
|
Telephone# |
91-4546-325001-05 |
Business Style 1 |
Manufacturer of Cotton Yarn |
|
Fax # |
91-4546-252742 |
Business Style 2 |
- |
|
Homepage |
Product Name 1 |
Bed Linen |
|
|
# of employees |
Not Available |
Product Name 2 |
Fabrics |
|
Paid up capital |
Rs.
263,210,000 |
Product Name 3 |
Cotton Yarn |
|
Shareholders |
Directors or
relatives of Directors (100.00%) |
Banking |
State Bank of
India |
|
Public Limited Corp. |
Yes |
Business Period |
28 years |
|
IPO |
-- |
International Ins. |
- |
|
Public |
-- |
Rating |
B
(36) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
583,297,000 |
Current Liabilities |
357,250,000 |
|
Inventories |
623,355,000 |
Long-term Liabilities |
2,359,438,000 |
|
Fixed Assets |
2,177,625,000 |
Other Liabilities |
157,000,000 |
|
Deferred Assets |
000 |
Total Liabilities |
2,873,688,000 |
|
Invest& other Assets |
000 |
Retained Earnings |
247,379,000 |
|
|
|
Net Worth |
510,589,000 |
|
Total Assets |
3,384,277,000 |
Total Liab. & Equity |
3,384,277,000 |
|
Total Assets (Previous Year) |
3,142,366,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
2,562,758,000 |
Net Profit |
72,169,000 |
|
Sales(Previous yr) |
1,749,768,000 |
Net Profit(Prev.yr) |
(10,834,000) |
|
Report Date : |
10.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
L. S. MILLS LIMITED |
|
|
|
|
Registered
Office : |
L S Mills Premises, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
18.04.1983 |
|
|
|
|
Com. Reg. No.: |
18-009973 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 263.210 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17111TN1983PLC009973 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MRIL00200E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL3081D |
|
|
|
|
Legal Form : |
A closely held public limited liability company. |
|
|
|
|
Line of Business
: |
Manufacturer of Cotton Yarn |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2000000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Trade
relations are reported as fair. Payments are reported to be slow but correct. The company can be considered for business dealings with slight caution.
|
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) |
|
India |
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 : |
L S Mills Premises, |
|
Tel. No.: |
91-4546-325001-05 |
|
Fax No.: |
91-4546-252742 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 16.05.2011
|
Name : |
Mr. Devi Aishwarya Manivannan |
|
Designation : |
Director |
|
Address : |
15, NRT, Road, NRT Nagar, Theni-625531, Tamilnadu, India |
|
Date of Birth/Age : |
16.05.1962 |
|
Date of Appointment : |
07.07.20 |
|
DIN No.: |
02463799 |
|
|
|
|
Name : |
Mr. Prabhaakaran Harshavardhanaa |
|
Designation : |
Director |
|
Address : |
15, NRT, Road, NRT Nagar, Theni-625531, Tamilnadu, India |
|
Date of Birth/Age : |
06.10.1990 |
|
Date of Appointment : |
03.12.2008 |
|
DIN No.: |
02463851 |
|
|
|
|
Name : |
Mr. Sundararajan Manivannan |
|
Designation : |
Managing Director |
|
Address : |
15, NRT, Road, NRT Nagar, Theni-625531, Tamilnadu, India |
|
Date of Birth/Age : |
16.05.1962 |
|
Date of Appointment : |
07.07.2009 |
|
DIN No.: |
01028324 |
|
Election ID No : |
CRN1498492 |
|
|
|
|
Name : |
Mr. Lakshmipathy Naicker Sundararajan Prabhaakaran |
|
Designation : |
Joint Managing Director |
|
Address : |
15, NRT, Road, NRT Nagar, Theni-625531, Tamilnadu, India |
|
Date of Birth/Age : |
16.12.1965 |
|
Date of Appointment : |
18.03.2010 |
|
DIN No.: |
01028390 |
|
Election ID No : |
CRN1498500 |
|
|
|
|
Name : |
Mr. Shanthi Manivannan |
|
Designation : |
Whole Time Director |
|
Address : |
15, NRT, Road, NRT Nagar, Theni-625531, Tamilnadu, India |
|
Date of Birth/Age : |
18.06.1963 |
|
Date of Appointment : |
18.03.2010 |
|
DIN No.: |
02817481 |
|
Election ID No : |
CRN1498518 |
|
|
|
|
Name : |
Mr. Prabhakaran Usha Devi |
|
Designation : |
Whole Time Director |
|
Address : |
15, NRT, Road, NRT Nagar, Theni-625531, Tamilnadu, India |
|
Date of Birth/Age : |
21.07.1965 |
|
Date of Appointment : |
07.07.2009 |
|
DIN No.: |
02777916 |
|
Election ID No : |
CRN1498526 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 16.05.2011
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Sundararajan Manivannan |
8771601 |
33.33 |
|
Lakshmipathy Naicker Sundararajan Prabhaakaran |
8913560 |
33.86 |
|
Shanthi Manivannan |
4330306 |
16.45 |
|
Prabhakaran Usha Devi |
4246800 |
16.13 |
|
Manivannan Aishwarya Devi |
58733 |
0.22 |
|
Total |
26321000 |
100.00 |
AS ON 16.05.2011
|
Equity Shares
Break Up |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Cotton Yarn |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Spindles |
-- |
133672 |
|
|
Rotors |
-- |
720 |
|
|
Looms |
-- |
60 |
|
|
Sewing Mc |
-- |
141 |
|
|
Cotton Yarn |
Kgs |
-- |
5294605 |
|
Fabric |
Mtrs |
-- |
4918869 |
|
Madeups |
Sets |
-- |
704914 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
Sundaram Finance Limited, 21 Patullos Road, Chennai-600002, Tamilnadu,
India |
|
|
|
|
Auditors : |
|
|
Name : |
Mr. G. Jeyaraman Chartered Accountant |
|
Address : |
Madural |
|
|
|
|
Enterprises owned or significantly influenced by
key management personnel / Directors or their relatives : |
|
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
27000000 |
Equity Shares |
Rs.10/- each |
Rs. 270.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
26321000 |
Equity Shares |
Rs.10/- each |
Rs. 263.210
Millions |
|
|
|
|
|
OTHER DETAILS
REGARDING SHARE CAPITAL
26321000 Equity
shares of Rs.10 each fully paid up of which 150000 Equity shares of Rs 10 each issued
as bonus shares during 1991-92 out of reserves and surplus and 33800 Equity
shares of Rs.10 each were issued for consideration other than cash for purchase
of land during 1990-91.
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 |
263.210 |
203.010 |
188.010 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
247.379 |
175.210 |
299.771 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
510.589 |
378.220 |
487.781 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2283.658 |
2288.250 |
1999.896 |
|
|
2] Unsecured Loans |
75.780 |
71.948 |
195.366 |
|
|
TOTAL BORROWING |
2359.438 |
2360.198 |
2195.262 |
|
|
DEFERRED TAX LIABILITIES |
157.000 |
109.297 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3027.027 |
2847.715 |
2683.043 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2177.625 |
2305.849 |
2265.165 |
|
|
Capital work-in-progress |
0.000 |
13.167 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
623.355
|
396.831 |
477.939 |
|
|
Sundry Debtors |
369.034
|
203.995 |
175.817 |
|
|
Cash & Bank Balances |
15.072
|
1.420 |
5.297 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
199.191
|
221.104 |
218.863 |
|
Total
Current Assets |
1206.652
|
823.350 |
877.916 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
321.620
|
291.148 |
387.269 |
|
|
Other Current Liabilities |
5.080
|
3.503 |
72.769 |
|
|
Provisions |
30.550
|
0.000 |
0.000 |
|
Total
Current Liabilities |
357.250
|
294.651 |
460.038 |
|
|
Net Current Assets |
849.402
|
528.699 |
417.878 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3027.027 |
2847.715 |
2683.043 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2562.758 |
1749.768 |
1158.354 |
|
|
|
Other Income |
61.249 |
62.874 |
35.452 |
|
|
|
TOTAL (A) |
2624.007 |
1812.642 |
1193.806 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
1410.733 |
906.766 |
457.650 |
|
|
|
Manufacturing Service Cost |
471.584 |
387.388 |
550.728 |
|
|
|
Employee Related Expenses |
127.331 |
107.908 |
0.000 |
|
|
|
Administrative, Selling & Other Expenses |
115.519 |
98.547 |
0.000 |
|
|
|
Yarn Purchase |
0.000 |
0.000 |
30.635 |
|
|
|
Fabric Purchase |
0.000 |
0.000 |
4.719 |
|
|
|
(Increase) / Decrease in Stock |
0.000 |
0.000 |
4.122 |
|
|
|
TOTAL (B) |
2125.167 |
1500.609 |
1047.854 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
498.840 |
312.033 |
145.952 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
197.952 |
186.144 |
144.322 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
300.888 |
125.889 |
1.630 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
150.382 |
141.022 |
123.469 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
150.506 |
(15.133) |
(121.839) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
78.337 |
(4.299) |
0.099 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
72.169 |
(10.834) |
(121.938) |
|
|
|
|
|
|
|
|
|
Add |
Deferred Tax |
0.000 |
0.000 |
39.453 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(10.834) |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
61.335 |
(10.834) |
(82.485) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
893.088 |
921.330 |
556.728 |
|
|
TOTAL EARNINGS |
893.088 |
921.330 |
556.728 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
0.000 |
0.687 |
48.965 |
|
|
TOTAL IMPORTS |
0.000 |
0.687 |
48.965 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.74 |
(0.53) |
(6.48) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.75
|
(0.60) |
(10.21) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.87
|
(0.86) |
(10.52) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.45
|
(0.48) |
(3.88) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
(0.04) |
(0.25) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.63
|
7.31 |
5.44 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.38
|
2.79 |
1.91 |
LOCAL AGENCY FURTHER INFORMATION
GENERAL TRADE CONDITIONS
As envisaged,
their products in domestic and global markets are well accepted for the
consistency in quality and have made their brand name popular. As a result they
could broaden their market and thereby increase their sales during the year.
The textile industry in general was experiencing a good period in having good
market demand for sales at remunerative price levels. These have resulted a
substantial increase in the net earnings of the company during the year. The
directors are hopeful of maintaining the profit level for the ensuing year
also. They also foresee favorable conditions in the improvement of power and
availability of cotton at competitive price for achieving better working
result.
CONTINGENT LIABILITY:
|
Particular |
31.03.2011 (Rs.
In Millions) |
|
Bank Guarantee |
0.250 |
|
Bills Discounted |
51.595 |
|
Unexpired Letter of Credit |
170.221 |
FORM 8
|
Corporate
identity number of the company |
U17111TN1983PLC009973 |
|
Name of the
company |
L.S. MILLS
LIMITED |
|
Address of the
registered office or of the principal place of business in |
L S Mills Premises, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) Others |
|
Particular of
charge holder |
State Bank of India, Theni Branch, No.285, Periyakulam Road,
Theni-625531, Tamilnadu, India |
|
Nature of instrument
creating charge |
1) Agreement of
Loan for Overall Limit 2) Agreement of
Hypothecation of Goods and Assets 3) Agreement of
Pledge of Goods and Assets 4) Letter
regarding the grant of Individual Limits within the Overall Limit 5) Revival Letter
|
|
Date of
instrument Creating the charge |
11.10.2011 |
|
Amount secured by
the charge |
Rs. 1302.900
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Terms of repayment As per Agreement Margin Raw Materials :
10% Goods in Process
: 10% Finished Goods :
10% Receivables (Book
Debts) : 15% Receivables -
Cover period 90 days Letter of Credit
(WC) : 10% Bank Guarantee :
10% Cell : 5% (margin on face value of forward contracts
booked.) Extent and operation of the charge As per Agreement |
|
Short particulars
of the property charged (Including location of the property) |
Primary
Security:- Cash Credit / SLC
/ Additional CC: Hypothecation of inventories spares, domestic receivables EPC : Hypothecation
of inventories and Spares. FDBN (Non-LC) :
Documents of title to merchandise covered under the bills discounted /
negotiated and extension of charge over entire current assets. LC (WC) : Charge over
merchandise covered under LC and extension of charge over entire current
assets. BG (WC) : Counter
Guarantee and extension of charge over entire current assets. Cell: Extension
of charge over entire current assets. Corporate Loan -
I : (i) Pari passu first charge over the fixed assets (other than assets
exclusively charged) with other CDR lenders (ii) Extension of
charge over entire current assets. TL I and II :
Pari passu first charge over the fixed assets (other than assets exclusively
charged) with other CDR lenders. TL III : (i) EM
over 2.00 acres of land in Surandai village, Tenkasi in S.No.287/2A, 2B, 3A,
3B, 4 and 343/2D, 2F, 2I, 2J, owned by the company. (ii)
Hypothecation of the wind mill erected in the above land of 2 acres. TL IV (To Shore
up NWC) : (i) Pari passu first charge over the fixed assets (other than
assets exclusively charged) with other CDR lenders. (ii) Extension of
charge over entire current assets. TL V (To set
right liquidity mismatch): (i) Pari
passu first charge over the fixed assets (other than assets exclusively
charged) with other CDR lenders. (ii) Extension of
charge over entire current assets. |
|
Charge
identification number of the charge to be modified |
90290810 |
|
Date of
instrument modifying the charge |
16.03.2011 |
|
Particulars of
the present modification |
By the present
modification, The various
credit facilities enjoyed by the company now has been reduced to Rs.1302.900
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.50.01 |
|
|
1 |
Rs.79.00 |
|
Euro |
1 |
Rs.66.17 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
36 |
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.