1. Summary Information
|
|
|
Country |
|
|
Company Name |
KOTHARI PRODUCTS
LIMITED |
Principal Name 1 |
Mr. Deepak Kothari |
|
Status |
Good |
Principal Name 2 |
Mr. Mitesh Kothari |
|
|
|
Registration # |
-- |
|
Street Address |
Pan Parag House
24/19, The Mall, Kanpur – 208001, Uttar Pradesh, India |
||
|
Established Date |
17.09.1983 |
SIC Code |
-- |
|
Telephone# |
91-512-2312171-74 |
Business Style 1 |
Manufactures and exports Pan Parag Pan Masala |
|
Fax # |
91-512-2312058 |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
-- |
|
# of employees |
-- |
Product Name 2 |
-- |
|
Paid up capital |
Rs.66,300,000 |
Product Name 3 |
-- |
|
Shareholders |
Individuals - 63.94 |
Banking |
Bank of India |
|
Public Limited Corp. |
-- |
Business Period |
29 years |
|
IPO |
--- |
International Ins. |
- |
|
Public |
--- |
Rating |
A (64) |
|
Related
Company |
|||
|
Relation
Associates |
Country
India |
Company
Name |
Kothari Detergents Limited |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
17,014,700,000 |
Current Liabilities |
12,889,500,000 |
|
Inventories |
480,800,000 |
Long-term Liabilities |
894,000,000
|
|
Fixed Assets |
129,400,000 |
Other Liabilities |
5,300,000 |
|
Deferred Assets |
-- |
Total Liabilities |
13,788,800,000 |
|
Invest& other Assets |
2,132,500,000 |
Retained Earnings |
5,902,300,000 |
|
|
|
Net Worth |
5,968,600,000 |
|
Total Assets |
19,757,400,000 |
Total Liab. & Equity |
19,757,400,000 |
|
Total Assets (Previous Year) |
6,973,300,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
13,337,200,000 |
Net Profit |
616,100,000 |
|
Sales(Previous yr) |
3,487,200,000 |
Net Profit(Prev.yr) |
668,400,000 |
|
Report Date : |
12.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
KOTHARI PRODUCTS LIMITED |
|
|
|
|
Registered
Office : |
Pan Parag House 24/19, The Mall, Kanpur – 208001, Uttar Pradesh |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
17.09.1983 |
|
|
|
|
Com. Reg. No.: |
006254 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.66.300 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L16008UP1983PLC006254 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
KNPK01137D |
|
|
|
|
Legal Form : |
A Closely held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufactures and exports Pan Parag Pan Masala, Gutkha and
Parag Zarda |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 23874400 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track. Financial
position of the company appears to be sound. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for normal 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) |
|
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 : |
Pan Parag House 24/19, The Mall, Kanpur – 208001, Uttar Pradesh, India
|
|
Tel. No.: |
91-512-2312171-74 |
|
Fax No.: |
91-512-2312058 |
|
E-Mail : |
|
|
Website: |
DIRECTORS
AS ON 31.03.2011
|
Name : |
Mr. Deepak Kothari |
|
Designation : |
Chairman and Managing Director |
|
|
|
|
Name : |
Mr. Mitesh Kothari |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Mr. Avinash Gupta |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Vikas Chaturvedi |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Pramod Kumar Tandon |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Raj Kumar Gupta |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.12.2011
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of promoter
and Promoter Group |
|
|
|
1) Indian |
|
|
|
a) Individuals / Hindu Undivided Family |
4240645 |
63.94 |
|
b) Bodies corporate |
733333 |
11.06 |
|
|
|
|
|
2) Foreign |
|
|
|
|
|
|
|
(B) Public Shareholdings |
|
|
|
1) Institutions |
|
|
|
|
|
|
|
2) Non – Institution |
|
|
|
a) Bodies corporate |
666958 |
10.06 |
|
|
|
|
|
b) Individuals |
|
|
|
i. Individual Shareholders holding nominal share capital upto Rs.0.100
Million |
511532 |
7.71 |
|
ii. Individual Shareholders holding nominal share capital in excess
Rs.0.100 Million |
447.309 |
6.74 |
|
|
|
|
|
c) Any other |
|
|
|
i) NRI – Repatriable |
32173 |
0.49 |
|
ii) Trust |
20 |
-- |
|
|
|
|
|
Total |
6631970 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufactures and exports Pan Parag Pan Masala, Gutkha and
Parag Zarda |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||
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Bankers : |
· Allahabad Bank · Canara Bank · Bank of India ·
UCO Bank |
|||||||||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
Note: Bank of India: Prime Securities: First pari passu charge by way
of Hypothecation of Stocks and book debts. Collateral
Securities: Exclusive charge by way of
equitable Mortgage of Property at Bangalore owned by other Company. Personal
guarantee of two directors. Allahabad Bank: Prime Securities: Hypothecation charge on current
assets of the company both current and future, ranking pari passu with other
multiple bankers. Collateral
Securities: Term Deposit worth Rs. 40.000
Millions, equitable mortgage of property at Noida and personal guarantee of
two directors. Canara Bank: Prime Securities: Hypothecation of Stocks and Book
Debts. Collateral
Securities: Term Deposit of Rs. 29.500
Millions and personal guarantee of two directors. UCO Bank: Prime Securities: First pari passu charge by way
of hypothecation on the entire movable, fixed and current assets of the
company (both current and future) with existing Working Capital lenders. Collateral
Securities: Rs. 30.000 Millions by way of
collateral in the form of Term Deposit Receipt. Punjab National
Bank : Prime Securities: Hypothecation charge on current
assets of the company. Collateral
Securities: Equitable mortgage of property
at Bangalore owned by wholly owned subsidiary. Yes Bank Limited: Prime Securities: First pari passu charge over all
the current assets and movable fixed assets of the Company (both current and
future). Collateral
Securities: Unconditional and irrevocable
personal guarantee of two directors.
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mehrotra and Mehrotra Chartered Accountant |
|
Address : |
16/49, Civil Lines, Kanpur – 208001, Uttar Pradesh, India |
|
|
|
|
Associates : |
· Kothari Detergents Limited · Ekta Flavours Private Limited · Dham Securities Private Limited · Lohewala Construction Private Limited · Parmy Manufactory Private Limited · DK Web-Tech Private Limited · Pan Parag India Limited · Bhojeshwar Realtors Private Limited · Hara Parvati Realtors Private Limited · Real Griha Nirman Private Limited · Subhadra Realtors Private Limited · Sankhya Realtors Private Limited · SPPL Hotels Private Limited ·
Tauras Agile Technologies Corporation Private
Limited |
|
|
|
|
Subsidiaries |
· Sukhdham Constructions and Developers Limited · Arti Web-Developers Private Limited · MK Web-Tech Private Limited · KPL Exports Private Limited · Kothari Products Singapore Pte. Limited · IMK Hotels Private Limited ·
Savitrimata Realtors Private Limited |
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 |
|
6631970 |
Equity Shares |
Rs.10/- each |
Rs.66.300
Millions |
|
|
|
|
|
(Including 4800000 shares of Rs. 10/- each alloted as fully paid up Bonus Shares by Capitalisation of General Reserve)
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 |
66.300 |
66.300 |
66.320 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
5902.300 |
5455.800 |
4942.005 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
5968.600 |
5522.100 |
5008.325 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
705.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
189.000 |
78.700 |
0.000 |
|
|
TOTAL BORROWING |
894.000 |
78.700 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
5.300 |
7.600 |
5.200 |
|
|
|
|
|
|
|
|
TOTAL |
6867.900 |
5608.400 |
5013.525 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
129.400 |
101.400 |
93.420 |
|
|
Capital work-in-progress |
68.700 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
2063.800 |
2207.400 |
3756.648 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
480.800
|
12.800 |
4.119 |
|
|
Sundry Debtors |
7297.000
|
929.600 |
19.760 |
|
|
Cash & Bank Balances |
6493.900
|
992.900 |
420.136 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.722 |
|
|
Loans & Advances |
3223.800
|
2729.200 |
1159.507 |
|
Total
Current Assets |
17495.500
|
4664.500 |
1604.244 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
7395.500
|
913.300 |
57.421 |
|
|
Other Current Liabilities |
4994.000
|
3.900 |
156.607 |
|
|
Provisions |
500.000
|
447.700 |
226.759 |
|
Total
Current Liabilities |
12889.500
|
1364.900 |
440.787 |
|
|
Net Current Assets |
4606.000
|
3299.600 |
1163.457 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6867.900 |
5608.400 |
5013.525 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
13337.200 |
3487.200 |
965.430 |
|
|
|
Other Income |
559.300 |
840.000 |
156.076 |
|
|
|
TOTAL (A) |
13896.500 |
4327.200 |
1121.506 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
13237.200 |
3114.300 |
466.437 |
|
|
|
Excise Duty |
0.000 |
0.000 |
178.001 |
|
|
|
Administrative, Selling and Distribution and Others Expenses |
388.100 |
393.700 |
336.020 |
|
|
|
Increase / (Decrease) In Stock |
(468.100) |
(8.700) |
13.990 |
|
|
|
TOTAL (B) |
13157.200 |
3499.300 |
994.448 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
739.300 |
827.900 |
127.058 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
739.300 |
827.900 |
127.058 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8.300 |
12.100 |
15.986 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
731.000 |
815.800 |
111.072 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
114.900 |
147.400 |
(6.335) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
616.100 |
668.400 |
117.407 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2080.300 |
1633.400 |
1606.503 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
61.600 |
66.900 |
12.956 |
|
|
|
Dividend |
145.900 |
132.600 |
66.320 |
|
|
|
Tax on Dividend |
23.700 |
22.000 |
11.271 |
|
|
BALANCE CARRIED
TO THE B/S |
2465.200 |
2080.300 |
1633.363 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
6710.400 |
2326.200 |
536.727 |
|
|
TOTAL EARNINGS |
6710.400 |
2326.200 |
536.727 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Trading Items |
10637.900 |
2159.300 |
212.844 |
|
|
TOTAL IMPORTS |
10637.900 |
2159.300 |
212.844 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
92.90 |
100.78 |
-- |
|
QUARTERLY
|
PARTICULARS |
30.06.2011 |
30.09.2011 |
31.12.2011 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Sales Turnover |
4445.500 |
8463.600 |
10272.200 |
|
Total Expenditure |
4184.200 |
8238.400 |
10038.900 |
|
PBIDT (Excl
OI) |
261.300 |
225.200 |
233.300 |
|
Other Income |
5.200 |
15.300 |
5.100 |
|
Operating
Profit |
266.500 |
240.500 |
238.400 |
|
Interest |
11.700 |
20.400 |
14.000 |
|
Exceptional
Items |
0.000 |
(542.600) |
(514.700) |
|
PBDT |
254.800 |
(322.500) |
(290.300) |
|
Depreciation |
2.000 |
2.200 |
2.200 |
|
Profit
Before Tax |
252.800 |
(324.700) |
(292.500) |
|
Tax |
85.000 |
(85.00) |
0.000 |
|
Reported PAT |
167.800 |
(239.700) |
(292.500) |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
167.800 |
(239.700) |
(292.500) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.43
|
15.45 |
10.46 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.48
|
18.85 |
11.50 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.15
|
17.11 |
6.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.15 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.31
|
0.26 |
0.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.36
|
3.42 |
3.64 |
LOCAL AGENCY FURTHER INFORMATION
2011 IN RETROSPECT:
The
Directors are to report that the Company’s sales turnover during the year under
review has been Rs. 13337.200 Millions as against Rs. 3487.200 Millions during the
previous financial year. The Profit before tax during the year has decreased to
Rs. 739.300 Millions as against Rs. 828.000 Millions in the previous year. The
Profit after Tax has also similarly decreased to Rs. 616.100 Millions as
against Rs. 668.400 Millions in the previous year.
INTERNATIONAL BUSINESS :
The
Company’s export during the year under review has increased to Rs. 6710.400
Millions as compared to Rs. 2326.200 Millions during the previous year.
SUBSIDIARIES :
The
Company has seven subsidiaries namely Sukhdham Constructions and Developers
Limited, Arti Web-Developers Private Limited, MK Web-Tech Private Limited , KPL
Exports Private Limited and IMK Hotels Private Limited as its wholly owned subsidiary Companies and
Kothari Products Singapore Private Limited
and Savitrimata Realtors Private Limited as its subsidiary Companies. In
accordance with the General Circular No. 2/2011 dated 8th February, 2011 of the
Ministry of Corporate Affairs granting general exemption under section 212 of
the Companies Act, 1956, the detailed annual accounts and their attachments are
not being published. However, the prescribed financial details of the aforesaid
subsidiary companies have been disclosed in the consolidated Balance Sheet. The
Company hereby undertakes that the Annual Accounts of the subsidiary companies
and their related detailed information shall be made available to the
shareowners of the holding and subsidiary companies seeking such information at
any point of time. The Annual Accounts of the subsidiary companies shall also
be kept for inspection by any shareowners at the head office of the holding
company and of the subsidiary companies concerned. The holding company shall
furnish a hard copy of details of accounts of subsidiaries to any shareowner on
demand.
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 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
64 |
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.