|
Report Date : |
09.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
INGRAM MICRO INDIA LIMITED (w.e.f. 13.05.2009) |
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Formerly Known
As : |
Tech pacific ( |
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Registered
Office : |
5th Floor, Block B, Godrej IT Park, 02 Godrej Business
Dist, Pirojshanagar, Vikhroli (West), Mumbai – 400079, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
05.03.1996 |
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Com. Reg. No.: |
11-136340 |
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Capital
Investment / Paid-up Capital : |
Rs.184.928 Millions |
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CIN No.: [Company Identification
No.] |
u72900mh1996plc136340 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
mumt06887G |
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PAN No.: [Permanent Account No.] |
aabct1296R |
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Legal Form : |
A Closely Held Public Limited Liability Company. |
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Line of Business
: |
Distributor of Products like Computers, Peripherals, Supplies,
Softwares etc. |
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No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
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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 |
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Maximum Credit Limit : |
USD 26000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and a reputed company having fine track.
Financial position of the company appears to be sound. Trade relations are reported
as fair. Business is active. Payments are reported to be regular 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 DECLINED BY
Management Non Co-operative.
LOCATIONS
|
Registered Office : |
5th Floor, Block B, Godrej IT Park, 02 Godrej Business
Dist, Pirojshanagar, Vikhroli (West), Mumbai – 400079, Maharashtra, India |
|
Tel. No.: |
91-22-67960101/ 67960149/ 39894645/ 67960247 |
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Fax No.: |
91-22-67960102/ 67960103/ 39891000/ 30561100/ 39894645 |
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E-Mail : |
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Website : |
http://www.imonline.co.in |
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Location : |
Owned |
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Southern
Branches : |
Located at: ·
Bengaluru ·
Chennai ·
Cochin ·
Coimbatore ·
Hubli ·
Hyderabad ·
Madurai ·
Pudhucherry ·
Trivandrum · Vizag |
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Western Branches : |
Located at: · Ahmedabad · Baroda · Bhopal · Indore · Surat · Mumbai · Nagpur · Pune · Raipur · Goa |
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Northern
Branches : |
Located at: ·
Chandigarh ·
Dehradun ·
Delhi ·
Jaipur
·
Jammu ·
Lucknow ·
Ludhiana
· Parwanoo |
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Eastern Branches
: |
Located at: ·
Bhubaneshwar ·
Guwahati ·
Kolkata ·
Patna · Ranchi |
DIRECTORS
(AS ON 30.09.2011)
|
Name : |
Mr. Jaishankar Vaidyanathan Krishnan |
|
Designation : |
Managing Director |
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Address : |
Flat No.1201, Somerset Hiranandani Garden, Powai, Mumbai – 400076,
Maharashtra, India |
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Date of Birth/Age : |
20.07.1957 |
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Qualification : |
MMM, BE (E and C) |
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Experience : |
34 years |
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Date of Appointment : |
27.10.2001 |
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DIN No.: |
00101652 |
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Name : |
Mr. Shailendra Narendra Gupta |
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Designation : |
Director |
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Address : |
No. 9, |
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Date of Birth/Age : |
17.09.1962 |
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Date of Appointment : |
01.09.2001 |
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DIN No.: |
00966943 |
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Name : |
Mr. Stephen John Paine |
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Designation : |
Director |
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Address : |
Le Grove service apartments M – 206, |
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Date of Birth/Age : |
17.01.1958 |
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Date of Appointment : |
05.12.2006 |
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DIN No.: |
01025188 |
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Name : |
Mr. Wai Kong NG |
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Designation : |
Director |
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Address : |
BLK 4, Block Resvervoir View #0 310, |
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Date of Birth/Age : |
24.10.1959 |
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Date of Appointment : |
09.07.2010 |
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DIN No.: |
03130301 |
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Name : |
Mr. Prabhakar Venkatakrishnan Iyer |
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Designation : |
Additional Director |
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Address : |
Flat 201, A Wing, Glengate, Hiranandani Gardens, Powai, Mumbai –
400076, Maharashtra, India |
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Date of Birth/Age : |
09.07.1964 |
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Date of Appointment : |
01.12.2011 |
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DIN No.: |
00116774 |
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Name : |
Mr. S. P. Achwal |
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Designation : |
Director – Product Management |
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Qualification : |
BE(Electr) |
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Experience : |
22 years |
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Date of Appointment : |
04.01.1990 |
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|
Name : |
Mr. Bimal Das |
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Designation : |
Director – Product Management |
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Qualification : |
MBA, B. Sc. |
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Experience : |
24 Years |
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Date of Appointment : |
09.12.1996 |
KEY EXECUTIVES
|
Name : |
Mr. Sunil Gajanan Joglekar |
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Designation : |
Company Secretary |
|
Address : |
F 105, Sumer Castle, LBS Road, Thane West, Mumbai – 400601,
Maharashtra, India |
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Date of Birth/Age : |
18.12.1964 |
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Date of Appointment : |
13.04.2009 |
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PAN No.: |
ACNPJ2440C |
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Name : |
Mr. Prabhakar Iyer |
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Designation : |
Chief Financial Officer |
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Qualification : |
B. Com, FCA,LLB (Gen) |
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Experience : |
23 years |
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Date of Appointment : |
02.02.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2011)
|
Names of Shareholders |
|
No. of Shares |
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|
Shailendra Gupta |
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1 |
|
Jaishankar Vaidyanathan Krishnan |
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2 |
|
Bimal Das |
|
1 |
|
Sanjay Achawal |
|
1 |
|
Mitradutta Mophapatra |
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1 |
|
Prabhakar V. Iyer |
|
1 |
|
Ingram Micro Asia Limited, Singapore |
|
18492710 |
|
Ingram Micro Asia Holdings Inc., USA |
|
100 |
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Total |
|
18492817 |
(AS ON 30.09.2011)
Equity Shares Break – up
|
Category |
|
Percentage |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributor of Products like Computers, Peripherals, Supplies,
Softwares etc. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
500 (Approximately) |
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Bankers : |
·
Central Bank of India, Corporate Finance Branch, 1st Floor, M S Road, Fort, Mumbai – 400023,
Maharashtra, India · Bank of America · Royal Bank of Scotland |
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Facilities : |
NOTE:- · Repayable within One Year. The above loan is guaranteed by a corporate guarantee for Rs.7,330,850,000 given by Ingram Micro Inc., USA. · Repayable within One Year. The above loan is guaranteed by a corporate guarantee for Rs. 7,330,850,000 given by Ingram Micro Inc., USA. |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Price Waterhouse Chartered Accountants |
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Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai – 400028,
Maharashtra, India |
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PAN No.: |
AAEFP5579P |
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Holding Company : |
· Ingram Micro Inc., USA · Ingram Micro Asia Holdings Inc., USA · Ingram Micro Asia Ltd., Singapore · Techpac Mauritius Limited (Up to November, 2009) |
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Subsidiary
Company : |
· Ingram Micro (India) Exports Pte. Limited |
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Fellow
Subsidiary Companies : |
· Ingram Micro Australia Pty. Limited · Ingram Micro NZ Limited · Ingram Micro Singapore (South Asia) Pte Limited · Ingram Micro Asia Pacific Pte. Limited · Ingram Micro Malaysia SDN BHD · Ingram Micro (Thailand) Limited · Ingram Micro Lanka (Private) Limited |
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Associates/Subsidiaries : |
·
Ingram Micro ( ·
Tech Pacific Holdings Pty Limited, ·
Tech Pacific Holdings Pty Limited, ·
Ingram Micro (NZ) Limited ·
Ingram Micro Semiconductor Asia Pte Limited ·
Ingram Micro ( ·
Ingram Micro Lanka (private) Limited ·
Ingram Micro INC, ·
Ingram Micro Asia Holdings INC, ·
Ingram Micro Asia Limited, |
CAPITAL STRUCTURE
(AS ON 30.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19000000 |
Equity Share |
Rs.10/- each |
Rs.190.000 millions |
|
1300000 |
1% Redeemable Cumulative Convertible
Preferences Shares |
Rs.100/- each |
Rs.130.000 millions |
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Total |
|
Rs.
320.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
18492817 |
Equity Share |
Rs.10/- each |
Rs.184.928 millions |
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|
NOTES: -
Of the above, 18492710 Equity shares are held by Ingram
Micro Asia Limited, the Holding Company
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 |
184.928 |
184.928 |
157.800 |
|
|
2] Share Application Money |
0.000 |
0.000 |
27.128 |
|
|
3] Reserves & Surplus |
6415.505 |
5562.567 |
4409.547 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
6600.433 |
5747.495 |
4594.475 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
2758.398 |
2850.639 |
1261.405 |
|
|
TOTAL BORROWING |
2758.398 |
2850.639 |
1261.405 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
|
TOTAL |
9358.831 |
8598.134 |
5855.880 |
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|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
29.970 |
37.206 |
52.496 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.168 |
1.168 |
1.168 |
|
|
DEFERREX TAX ASSETS |
181.348 |
238.449 |
258.054 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
7056.269
|
5637.486
|
3961.918
|
|
|
Sundry Debtors |
9149.194
|
8788.788
|
5243.954
|
|
|
Cash & Bank Balances |
522.522
|
344.187
|
153.238
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
2598.133
|
2026.907
|
2033.119
|
|
Total
Current Assets |
19326.118
|
16797.368
|
11392.229 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
8888.997 |
7754.986 |
5342.505 |
|
|
Other Current Liabilities |
1206.714
|
602.819
|
291.038
|
|
|
Provisions |
84.062
|
118.252
|
214.524
|
|
Total
Current Liabilities |
10179.773
|
8476.057
|
5848.067
|
|
|
Net Current Assets |
9146.345
|
8321.311
|
5544.162
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
9358.831 |
8598.134 |
5855.880 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
83770.212 |
66298.263 |
66747.935 |
|
|
|
Other Income |
345.341 |
263.724 |
203.249 |
|
|
|
TOTAL (A) |
84115.553 |
66561.987 |
66951.184 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption Materials Changes Inventories |
80595.913 |
63289.481 |
63589.821 |
|
|
|
Employee Related Expenses |
637.829 |
565.839 |
575.369 |
|
|
|
Administrative, Selling and Other Expenses |
1238.872 |
807.762 |
932.868 |
|
|
|
TOTAL (B) |
82472.614 |
64663.082 |
65098.058 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1642.939 |
1898.905 |
1853.126 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
291.444 |
120.329 |
248.697 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1351.495 |
1778.576 |
1604.429 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
18.340 |
20.952 |
23.098 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1333.155 |
1757.624 |
1581.331 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
480.217 |
604.605 |
555.767 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
852.938 |
1153.019 |
1025.564 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
5378.726 |
4225.707 |
3200.143 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
6231.664 |
5378.726 |
4225.707 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB – Exports Sales |
24.462 |
45.751 |
18.861 |
|
|
|
Sales Overseas Branch |
1386.953 |
0.000 |
0.000 |
|
|
|
Rebate (Netted off against cost of sales) |
386.483 |
209.983 |
199.345 |
|
|
|
Service Fee Charged to wholly Owned Subsidiary |
44.005 |
41.520 |
46.007 |
|
|
|
Service Fees and expenses Charges to Wholly Owned Subsidiary –
Overseas Branch |
3.923 |
0.000 |
0.000 |
|
|
|
Expenses recovered |
24.047 |
56.312 |
82.027 |
|
|
TOTAL EARNINGS |
1869.873 |
353.566 |
346.240 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
23200.777 |
18743.146 |
18905.084 |
|
|
TOTAL IMPORTS |
23200.777 |
18743.146 |
18905.084 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
46.12 |
62.35 |
55.46 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.01
|
1.73 |
1.53 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.59
|
2.65 |
2.36 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.89
|
10.44 |
13.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.31 |
0.34 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.96
|
1.97 |
1.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.90
|
1.98 |
1.95 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
-
Creditors due small micro enterprises |
688.775 |
450.702 |
95.268 |
|
-
Creditors due others |
8200.222 |
7304.284 |
5247.237 |
|
|
|
|
|
|
Total |
8888.997 |
7754.986 |
5342.505 |
|
Check list by info
Agents |
Available in Report (Yes/ No) |
|
|
|
|
Year of Establishment |
Yes |
|
Locality of the Firm |
Yes |
|
Constitution of the Firm |
Yes |
|
Premises details |
No |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoter’s Background |
Yes |
|
No. of Employees |
Yes |
|
Name of Person Contacted |
No |
|
Designation of Contact person |
No |
|
Turnover of Firm for last three years |
Yes |
|
Profitability for last three years |
Yes |
|
Reasons for variation <> 20% |
----- |
|
Estimation for coming financial year |
No |
|
Capital in the business |
Yes |
|
Details of sister concerns |
Yes |
|
Major Suppliers |
No |
|
Major Customers |
No |
|
Payments Terms |
No |
|
Export/ Imports Details (If applicable) |
No |
|
Market Information |
----- |
|
Litigations that the firm/ Promoters Involved in |
----- |
|
Banking details |
Yes |
|
Banking Facility Details |
Yes |
|
Conduct of the Banking Account |
----- |
|
Buyer visit details |
----- |
|
Financials, if provided |
Yes |
|
Incorporation details is applicable |
Yes |
|
Last Accounts filed at ROC |
Yes |
|
Major Shareholders, if available |
Yes |
NOTE:
The Registered office of the company has been
shifted from Gate No.1A, Godrej Industries Complex, Pirojshanagar, Eastern
Express Highway, Vikhroli (East), Mumbai – 400079, Maharashtra, India, to the
present address w.e.f. 01.02.2012.
OPERATIONS:
The Accounts for
the year were considered by the Audit Committee at its meeting held on August
31, 2011 and the financial statements were forwarded to the board along with
comments and recommendation. During the year, the Company achieved total turnover
of Rs.83770.212 Millions and after providing for depreciation of Rs.18.340
Millions and Finance Cost of Rs.291.444 Millions, the Company earned a profit
before tax of Rs.1333.155 Millions. After providing for Income Tax (Current tax
– Rs.425.000 Millions and Deferred tax of Rs.57.100 Millions, the Profit after
tax stood at Rs.852.938 Millions.
During the year
the business grew across all the segments. The demands generated in the market were
largely from the consumer and public sector projects. The company gained market
share and growth however due to high competitive market there was drop in
margin and pressure on working capital.
During the year
the Singapore branch commenced its business. The revenue and expenses of the
branch have been included in the financials.
BUSINESS OUTLOOK:
The economic
climate in India as well as global markets is expected to continue to be
subdued. This is likely to result is lower than expected growth rates in IT
infrastructure deployment in small and medium businesses.
The company
expects growth to come primarily from Govt. & public sector segment for IT
product lines, however, this is likely to exert pressure on working capital for
the company.
The consumer
market is expected to grow strongly with increasing demand for smart phones,
laptops and tablets. This is likely to benefit the company.
The company
continues to focus on cost optimization and working capital improvement while
developing services capability to improve overall profitability.
CONTINGENT LIABILITIES
|
Particulars |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In
Millions) |
|
|
|
|
|
|
Claims against the Company not acknowledged as debt * |
49.631 |
49.717 |
|
Guarantees given by the Company’s Bankers |
3.774 |
3.520 |
|
Guarantee issued to Bank |
37.286 |
0.000 |
|
Sales tax demands disputed by the Company * |
374.920 |
394.722 |
|
Custom duty tax matters disputed by the Company * |
17.208 |
11.050 |
|
Income and Wealth Tax demands disputed by the Company * |
24.441 |
68.367 |
* The timing and amount of cash flows, if any, that may arise from the
above matters, will be determined only on settlement of the cases.
FIXED ASSETS:
· Leasehold Improvement
· Machinery and Equipments
· Computer Hardware
· Vehicles
· Goodwill
· Assets taken on finance lease vehicles.
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.52.85 |
|
|
1 |
Rs.85.44 |
|
Euro |
1 |
Rs.68.81 |
INFORMATION DETAILS
|
Information Gathered
by : |
PJA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--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 |
no |
|
--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.