MIRA
INFORM REPORT
|
Report Date : |
27.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
BPL LIMITED |
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Registered
Office : |
BPL Works, Palakkad – 678007, Kerala |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
16.04.1963 |
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Com. Reg. No.: |
09-002015 |
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Capital
Investment / Paid-up Capital : |
Rs.2180.980 Millions |
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CIN No.: [Company Identification
No.] |
L28997KL1963PLC002015 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BLRBO1384F |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchange. |
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Line of Business
: |
Manufacturing of Alkaline
Batteries, Measuring Instruments, Colour Television and Home Theatre Systems,
Monitors, Black and White Television Sets, Home Appliances and
Electrocardiographs. |
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|
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 13000000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an old and established company having moderate track. There
appears some accumulated losses recorded by the company. However, trade relations
are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some
cautions. |
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) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office/ Factory 1: |
BPL Works, Palakkad – 678007, Kerala, India |
|
Tel. No.: |
91-491-2533241 /
42 |
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Fax No.: |
91-491-2535410 |
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E-Mail : |
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Website : |
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Corporate Office : |
11th KM Arakere Bannerghatta Road, Bangalore – 560076,
Karnataka, India |
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Tel No.: |
91-80-26484314/ 4348/ 4350/ 4388/ 0209 |
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Email : |
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Factory 2: |
Doddaballapur, Bangalore – 561203, Karnataka, India |
DIRECTORS
(AS ON 31.03.2011)
|
Name : |
Mr. Ajit G. Nambiar |
|
Designation : |
Chairman and
Managing Director |
|
Date of Birth/
Age : |
48 years |
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Qualification
: |
BS in |
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Experience : |
26 years |
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Date of
Appointment : |
02.12.1993 |
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Name : |
Mrs. Anju
Chandrasekhar |
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Designation : |
Director |
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Name : |
Mr. S. Padmakumar |
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Designation : |
Director |
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Name : |
Mr. K. S. Prasad |
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Designation : |
Director |
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Name : |
Capt. S. Prabhala |
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Designation : |
Director |
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Name : |
Mr. K.
Jayabharatha Raddy |
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Designation : |
Director |
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Name : |
Mr. Suraj L.
Mehta |
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Designation : |
Director |
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Name : |
Mr. Subhash Bathe
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Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. R. Vijayendra |
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Designation : |
Company Secretary and Compliance Officer |
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BOARD COMMITTESS: |
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Audit Committee : |
Mr. K. Jayabharath Reddy, Chairman Mr. S. Padmakumar, up to 9.11.2010 Mr. Suraj L Mehta Mr. Subhash Bathe |
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Compensation
Committee : |
Capt. S Prabhala, Chairman Mrs. Anju Chandrasekhar Mr. K Jayabharath Reddy Mr. Subhash Bathe |
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Investors'
Relations Committee : |
Mr. K S Prasad, Chairman Mrs. Anju Chandrasekhar Mr. S Padmakumar, upto 9.11.2010 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 31.12.2011)
|
Names of Category |
No. of Shares |
Percentage of
Holding |
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(A) Shareholding
of Promoter and Promoter Group |
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|
1,283,350 |
2.65 |
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29,811,194 |
61.45 |
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31,094,544 |
64.10 |
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Total
shareholding of Promoter and Promoter Group (A) |
31,094,544 |
64.10 |
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(B) Public
Shareholding |
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|
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|
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|
900 |
- |
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|
3,800 |
0.01 |
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|
443,010 |
0.91 |
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|
1,300 |
- |
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|
449,010 |
0.93 |
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|
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4,602,045 |
9.49 |
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8,810,294 |
18.16 |
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3,291,988 |
6.79 |
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262,363 |
0.54 |
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|
99,000 |
0.20 |
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128,551 |
0.26 |
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2,950 |
0.01 |
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31,862 |
0.07 |
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16,966,690 |
34.98 |
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Total Public
shareholding (B) |
17,415,700 |
35.90 |
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Total (A)+(B) |
48,510,244 |
100.00 |
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(C) Shares held
by Custodians and against which Depository Receipts have been issued |
- |
- |
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|
- |
- |
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- |
- |
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- |
- |
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Total (A)+(B)+(C) |
48,510,244 |
100.00 |
(1)
Indian
Individuals
/ Hindu Undivided Family
Individual
shareholders holding nominal share capital up to Rs.0.100 MillionBUSINESS DETAILS
|
Line of Business : |
Manufacturing of Alkaline
Batteries, Measuring Instruments, Colour Television and Home Theatre Systems,
Monitors, Black and White Television Sets, Home Appliances and
Electrocardiographs. |
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Products : |
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PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed Capacity |
Actual Production
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Medical
Electronics |
Nos. |
20,000 |
11172 |
NOTE:
The Products are assembled
from large number of Components/Parts procured from outside suppliers. Hence,
quantity particulars for each item in respect of Purchases, Consumption and
Sales cannot be furnished.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
v
Canara
Bank v
Citibank
NA v
Sakura
Bank v
Standard
Chartered Grindlays Bank Limited v
American
Express Bank v
HDFC
Bank Limited v
KBC
Bank NV v
ING
Bank v
ABN
Amro Bank NV v
Centurion
Bank Limited v
ICICI
Bank Limited v
Hongkong
and Shanghai Banking Corporation Limited v
Bank
of v
Bank
of Baharin and Kuwait v
Central
Bank of v
Jammu
and Kashmir Bank v
Bank
of Rajasthan v
Indusind
Bank Limited v
UCO
Bank Limited |
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Facilities : |
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
T Velu Pillai and
Company Chartered
Accountants |
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Address : |
Bangalore, Karnataka, India |
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Subsidiaries : |
· BPL Display Devices Limited ·
Bharat Energy Ventures Limited ·
BPL Securities Private Limited |
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Joint Venture |
·
SANYO BPL Private Limited |
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Companies where
Directors have control : |
· Dynamic Electronics Private Limited · Orion Constructions Company Private Limited · ER Computers Private Limited · Phoenix Holdings Private Limited · Stallion Computers Private Limited · Electro Investment Private Limited · Nambiar International Investment Company Private Limited · BPL Telecom Private Limited · BPL Techno Vision Private Limited · BPL Power Projects (AP) Private Limited · BPL FTA Energies Private Limited · Electronic Research Private Limited · NI Micro Technologies Private Limited |
CAPITAL STRUCTURE
(AS ON 27.07.2011)
Authorised Capital: Rs.2250.000 Millions
Issued, Subscribed & Paid-up Capital: Rs.2182.570
Millions
(AS ON 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
55000000 |
Equity Shares |
Rs.10/- each |
Rs.550.000 millions |
|
17000000 |
Redeemable
Preference Shares |
Rs.100/- each |
Rs.1700.000 millions |
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Total
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|
Rs.2250.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
48510244 |
Equity Shares |
Rs.10/- Each |
Rs.485.102 Millions |
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|
Shares Forfeited |
|
Rs.0.010 Millions |
|
16958682 |
Redeemable Non
Cumulative Preference Shares |
Rs.100/- each |
Rs.1695.868 Millions |
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|
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Total |
|
Rs.2180.980 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 |
2180.980 |
2180.980 |
2180.980 |
|
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2369.376 |
2363.585 |
2363.585 |
|
|
4] (Accumulated Losses) |
(1391.385) |
(2168.616) |
(2171.908) |
|
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NETWORTH |
3158.971 |
2375.949 |
2372.657 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1184.709 |
2750.913 |
3006.360 |
|
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
1184.709 |
2750.913 |
3006.360 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
4343.680 |
5126.862 |
5379.017 |
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|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
717.677 |
1132.907 |
1557.691 |
|
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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|
INVESTMENT |
1369.968 |
1369.968 |
1369.969 |
|
|
DEFERREX TAX ASSETS |
2315.398 |
2323.035 |
2313.565 |
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
84.260
|
98.199 |
104.603 |
|
|
Sundry Debtors |
177.491
|
157.951 |
119.546 |
|
|
Cash & Bank Balances |
38.529
|
75.410 |
71.942 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
263.020
|
853.666 |
858.621 |
|
Total
Current Assets |
563.300
|
1185.226 |
1154.712 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
437.212
|
681.243 |
823.262 |
|
|
Other Current Liabilities |
185.431
|
203.031 |
193.658 |
|
|
Provisions |
0.020
|
0.000 |
0.000 |
|
Total
Current Liabilities |
622.663
|
884.274 |
1016.920 |
|
|
Net Current Assets |
(59.363)
|
300.952 |
137.792 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
4343.680 |
5126.862 |
5379.017 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
906.990 |
815.493 |
761.632 |
|
|
|
Other Income |
1389.670 |
369.555 |
10.300 |
|
|
|
TOTAL (A) |
2296.660 |
1185.048 |
771.932 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
647.888 |
569.259 |
423.204 |
|
|
|
Salaries, Wages and Other benefits
|
157.819 |
147.632 |
192.039 |
|
|
|
Manufacturing and Other Expenses |
106.269 |
122.410 |
129.969 |
|
|
|
Selling Expenses |
51.552 |
38.047 |
32.016 |
|
|
|
Impairment Loss on Assets |
133.873 |
31.044 |
0.000 |
|
|
|
Provision for Doubtful Advances/ Debts |
1.478 |
3.641 |
290.051 |
|
|
|
Provision for Diminution in Value of Investments |
0.000 |
0.000 |
265.705 |
|
|
|
Extra-ordinary Items |
228.622 |
37.6000 |
0.000 |
|
|
|
TOTAL (B) |
1327.501 |
949.633 |
1332.984 |
|
|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
969.159 |
235.415 |
(561.052) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
104.524 |
133.422 |
118.523 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
864.635 |
(101.993) |
(679.575) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
79.747 |
108.171 |
113.990 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
784.888 |
(6.178) |
(793.565) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
7.638 |
(9.471) |
(658.853) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
777.250 |
3.293 |
(134.712) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(2168.615) |
(2171.908) |
(2037.196) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(1391.385) |
(2168.615) |
(2171.908) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
6.439 |
0.287 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
57.885 |
55.788 |
49.356 |
|
|
|
Components/ Parts |
393.785 |
398.022 |
278.604 |
|
|
TOTAL IMPORTS |
451.670 |
453.810 |
327.960 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
16.02 |
0.07 |
(3) |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2011 |
30.09.2011 |
31.12.2011 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
191.900 |
160.400 |
227.600 |
|
Total Expenditure |
210.800 |
188.900 |
252.300 |
|
PBIDT (Excl OI) |
-18.900 |
(28.500) |
(24.700) |
|
Other Income |
37.800 |
49.500 |
266.300 |
|
Operating Profit |
18.900 |
21.000 |
241.600 |
|
Interest |
4.900 |
6.600 |
9.100 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
14.000 |
14.400 |
232.500 |
|
Depreciation |
19.000 |
18.200 |
16.900 |
|
Profit Before Tax |
(5.000) |
(3.800) |
215.700 |
|
Tax |
0.000 |
0.000 |
0.000 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
(5.000) |
(3.800) |
215.700 |
|
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 |
(5.000) |
(3.800) |
215.700 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
33.84
|
0.28 |
(17.45) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
86.54
|
(0.76) |
(104.19) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
61.27
|
(0.27) |
(29.26) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25
|
0.00 |
(0.33) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.57
|
1.53 |
1.70 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.90
|
1.34 |
1.14 |
LOCAL AGENCY FURTHER INFORMATION
BUSINESS OVERVIEW
The operations of the Company continued to be affected due to working capital
constraints and lack of bank funding. The cost cutting exercises and strict
funds management led the Company to register growth in operations of 11.21%
compared to the previous year.
The total income recorded was Rs.2318.500 Millions for the year 2010-11
compared to Rs.1200.600 Millions for the previous year. The gross profit earned
for the year is Rs.1333.000 Millions. After providing Rs.79.700 Millions,
Rs.104.500 Millions and Rs.133.800 Millions towards depreciation, finance
charges and for impairment of assets
respectively, the Company has earned a profit (before provisions and taxation)
of Rs.1015.000 Millions for the year 2010-11, resulting in decrease in the loss
on the Balance Sheet.
HEALTH MANAGEMENT
SOLUTIONS (HMS)
Industry structure
and developments
Health Care Industry consists of health care facilities, medical
devices, diagnostic centers and medical insurance, emergency care, specialist
medical care and medical tourism. It is one of India’s largest business sectors
in terms of revenue and employment, which contributes about 5% of the GDP.
The Medical Devices division, in which the company presently operates,
is poised for record growth due to increasing awareness and affordability
coupled with an increasing patient pool. Growth in other divisions of the
Health Care industry will also create growth opportunity for the Company and
contribution of diagnostic equipment category would be significant.
Despite the working capital constraints faced, the Medical Devices
business of the Company registered a healthy growth of 18 percent in terms of
net sales during 2010-11 compared to its previous year. Earnings before
interest and tax, as a percentage (EBITA) of net sales was 56%, in addition to
improvement in working capital cycles and reduction in receivable-days.
OUTLOOK
While the Company
started modest export of products in the current year, it will continue to
broaden customer base by enhancing business development activities with their
well established network of distributors and dealers in hospital chains, and
through partnership with the Governments.
The Company has
been re-certified for ISO13485:2003 and ISO9001:2008. It intents to expand the
number of products covered under CB and CE certifications, thus making them conform
to international quality standards. The Health Care Management Business has
embarked on a product development plan as a long-term strategic plan to
establish in the niche areas of the Indian and Global Healthcare Industry.
SUBSIDIARY COMPANIES
Earlier the
Company had three subsidiary Companies namely BPL Securities Private Limited,
BPL Display Devices Limited and Bharat Energy Ventures Limited.
BPL Securities
Private Limited was not carrying on business and this Company has made an
application under the Easy Exist Scheme- 2011 announced by the Ministry of
Corporate Affairs, Government of India. The Company has applied for its name
struck off under Section 560 of the Companies Act, 1956 under the said Scheme.
Further, BPL Display Devices Limited was ordered to be wound up under the
orders of the Honorable High Court of Allahabad on 17th October, 2008. Hence,
the accounts of BPL Securities Private Limited and BPL Display Devices Limited
have not been provided as required by Section 212 of the Companies Act, 1956.
The Company has
resolved to utilize the general exemption granted by The Ministry of Corporate
Affairs, Government of India vide its General circular No. 2/ 2011 dated 8th
February, 2011 from attaching the Balance Sheet, Profit and Loss Account,
Directors’ Report and Auditors Report and other related documents of subsidiary
companies and accordingly, the said documents of Bharat Energy Ventures
Limited, a subsidiary of the Company are not attached to the Balance Sheet of
the Company. However, requirements which your Company is required to meet under
the said Circular, will be complied with.
The company
undertakes that the annual accounts and the related detailed information of the
Company’s subsidiary Bharat Energy Ventures Limited (BEVL) will be made
available to the shareholders of the Company and BEVL, who seek such
information at any point of time. The annual accounts of
BEVL will also be
kept for inspection by any shareholders in the head office of the Company and
of BEVL.
FIXED ASSETS:
· Land
· Building
· Plant and Machinery
· Computer, Equipment and Net Working
· Furniture and Fixtures
· Vehicles
· Research and Development Expenditure
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.51.31 |
|
|
1 |
Rs.81.37 |
|
Euro |
1 |
Rs.67.98 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
30 |
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.