MIRA
INFORM REPORT
|
Report Date : |
12.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
ANIK INDUSTRIES LIMITED (w.e.f 19.10.2006) |
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Formerly Known
As : |
MADHYA PRADESH GLYCHEM INDUSTRIES LIMITED |
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Registered
Office : |
610, Tulsiani Chambers, Nariman Point, Mumbai – 400021, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
10.02.1976 |
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Com. Reg. No.: |
11-136836 |
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Capital Investment
/ Paid-up Capital : |
Rs.277.535 Millions |
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CIN No.: [Company Identification
No.] |
L24118MH1976PLC136836 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM20568C |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Processing and Exports of Soyabean. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 8630000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and a reputed company having
satisfactory track. Financial position of the company appears to be sound. Trade
relations are reported as fair. Business is active. Payments are reported to
be correct and as per commitments. The company can be considered normal for business dealings at usual
trade terns 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
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 : |
610, Tulsiani Chambers, Nariman Point, Mumbai-400021, |
|
Tel. No.: |
91-22-22824851/ 53/ 57/ 59/ 63 |
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Fax No.: |
91-22-22042805 |
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E-Mail : |
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Website : |
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Corporate Office: |
2/1 South Tikoganj, Behind High Court,
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Tel No.: |
91-731-4018009-10 |
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Fax No.: |
91-731-2513285 |
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Dairy Unit 1 : |
Unit
I-Vill. Bilawali, Dewas |
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Dairy Unit 2 : |
Unit II-Vill.
Bilawali, Dewas |
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Dairy Unit 3 : |
Dairy
Complex, |
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Dairy Unit 4 : |
Govindpura
Industrial Area, |
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Wind Power Unit 1: |
Located at:
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DIRECTORS
As on 31.03.2011
|
Name : |
Mr.
Kailash Chandra Shahra |
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Designation : |
Chairman |
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|
Name : |
Mr.
Suresh Chandra Shahra |
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Designation : |
Managing
Director |
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Name : |
Mr.
Manish Shahra |
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Designation : |
Jointly
Managing Director |
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Name : |
Mr.
Ashok Trivedi |
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Designation : |
Whole
Time Director |
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Name : |
Mr.
P.D. Nagar |
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Designation : |
Independent
Director |
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Name : |
Mr.
Ashok Mehta |
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Designation : |
Independent
Director |
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Name : |
Mr.
Kamal Kumar Gupta |
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Designation : |
Additional
Director |
KEY EXECUTIVES
|
Name : |
Mr.
Shailesh Kumath |
|
Designation : |
Company Secretary |
|
Address : |
2/1, South
Tukoganj, Behind High Court, |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2012
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
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|
4431327 |
15.97 |
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|
9498509 |
34.22 |
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(B) Public
Shareholding |
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|
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|
19500 |
0.07 |
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|
1481059 |
5.34 |
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|
4213743 |
15.18 |
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|
2820194 |
10.16 |
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|
498226 |
1.80 |
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|
131271 |
0.17 |
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|
4523914 |
16.30 |
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|
11423 |
0.04 |
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|
88760 |
0.32 |
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35560 |
0.13 |
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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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Total |
21252610 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs.0.100 Millions BUSINESS DETAILS
|
Line of Business : |
Processing and Exports of Soyabean. |
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Products : |
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PRODUCTION STATUS
As on 31.03.2011
|
Particulars |
Unit |
Installed capacity |
|
Milk Processing |
KLs |
2,91,000 |
|
Wind Power Generation |
MWH |
1.85 |
The licensed capacity is not given as licensing has been
abolished
|
Particulars |
Unit |
Actual
Production |
|
Ghee |
MTs |
5,271.69 |
|
Pasteurized Milk |
KLs |
46,671.38 |
|
Soya Iso Prolet |
MTs |
8.63 |
|
Milk Powder |
MTs |
6,145.57 |
|
Wind Power
Generation |
KWH |
27,75,416.00 |
(i) Milk powder excludes Nil MT (Previous Yr. 20.746 MT)
production done on job work for others.
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Ashok Khasgiwaa and Company Chartered Accountants |
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Associate/ Joint
Venture: |
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Other parties where
Key Management Personnel and/or their relatives have significant influence : |
· Shahra Securities Private Limited
|
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,50,00,000 |
Equity Shares |
Rs.10/- each |
Rs.450.000 Millions |
|
5,00,000 |
Redeemable Non-Cumulative Preference shares |
Rs.100/- each |
Rs.50.000 Millions |
|
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TOTAL |
|
Rs.500.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
27753486* |
Equity Shares *(Of the above Equity Shares 4,30,008 Equity Shares are allotted
as Fully Paid Up Bonus Shares by Capitalization of Profits) |
Rs.10/- each |
Rs.277.535
millions |
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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 |
277.535 |
277.535 |
277.535 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1880.754 |
1779.833 |
1688.646 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
2158.289 |
2057.368 |
1966.181 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1534.152 |
1625.946 |
1140.788 |
|
|
2] Unsecured Loans |
1048.257 |
1953.356 |
240.863 |
|
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TOTAL BORROWING |
2582.409 |
3579.302 |
1381.651 |
|
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DEFERRED TAX LIABILITIES |
92.777 |
79.133 |
74.066 |
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|
|
|
|
|
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TOTAL |
4833.475 |
5715.803 |
3421.898 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1198.271 |
965.850 |
958.252 |
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Capital work-in-progress |
17.965 |
226.497 |
39.696 |
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INVESTMENT |
143.246 |
165.883 |
237.871 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
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Inventories |
1580.693
|
1311.043 |
1109.580
|
|
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Sundry Debtors |
3124.783
|
2967.995 |
2219.497
|
|
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Cash & Bank Balances |
1194.463
|
2284.877 |
641.422
|
|
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Other Current Assets |
187.753
|
179.220 |
88.701
|
|
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Loans & Advances |
837.210
|
837.195 |
769.128
|
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Total
Current Assets |
6924.902
|
7580.330 |
4828.328 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
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Sundry Creditors |
3367.236
|
3097.208 |
2531.540 |
|
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Other Current Liabilities |
74.122
|
95.691 |
83.914
|
|
|
Provisions |
9.551
|
29.858 |
26.795
|
|
Total
Current Liabilities |
3450.909
|
3222.757 |
2642.249
|
|
|
Net Current Assets |
3473.993
|
4357.573 |
2186.079
|
|
|
|
|
|
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
4833.475 |
5715.803 |
3421.898 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
12755.637 |
12168.135 |
10209.775 |
|
|
|
Other Income |
32.664 |
64.624 |
|
|
|
|
TOTAL (A) |
12788.301 |
12232.759 |
10209.775 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase /(Decrease) in Stocks |
(249.913) |
(199.268) |
131.687 |
|
|
|
Materials |
12025.220 |
11500.740 |
9429.655 |
|
|
|
Expenses |
795.548 |
740.468 |
468.456 |
|
|
|
TOTAL (B) |
12570.855 |
12041.940 |
10029.798 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
217.446 |
190.818 |
179.977 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5.086 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
212.360 |
190.818 |
179.977 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
49.577 |
38.783 |
35.449 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
162.783 |
152.035 |
144.528 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
61.863 |
41.430 |
252.409 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
100.920 |
110.605 |
107.881 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
968.863 |
927.675 |
841.973 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
50.000 |
2.697 |
|
|
|
Proposed Dividend |
0.000 |
16.652 |
16.652 |
|
|
|
Corporate Tax on proposed Dividend |
0.000 |
2.765 |
2.830 |
|
|
BALANCE CARRIED
TO THE B/S |
1069.783 |
968.863 |
927.675 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods on FOB basis |
172.398 |
788.087 |
66.885 |
|
|
|
Merchandise trade on FOB basis |
283.281 |
145.868 |
198.747 |
|
|
TOTAL EARNINGS |
455.679 |
933.955 |
265.632 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Purchase of Raw Materials & Finished Goods |
4119.151 |
4693.814 |
3664.802 |
|
|
|
Merchandise Trade |
275.454 |
142.767 |
152.500 |
|
|
TOTAL IMPORTS |
4394.605 |
4836.581 |
3817.302 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.64 |
3.99 |
3.89 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2011 1st
Quarter |
30.09.2011 2nd
Quarter |
31.12.2011 3rd
Quarter |
|
Net Sales |
3284.250 |
3288.890 |
3485.280 |
|
Total Expenditure |
3238.620 |
3261.940 |
3466.170 |
|
PBIDT (Excl OI) |
45.630 |
26.950 |
19.110 |
|
Other Income |
85.620 |
79.710 |
120.590 |
|
Operating Profit |
131.250 |
106.660 |
139.700 |
|
Interest |
82.050 |
74.570 |
113.360 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
49.200 |
32.090 |
26.340 |
|
Depreciation |
13.960 |
14.070 |
14.220 |
|
Profit Before Tax |
35.240 |
18.020 |
12.130 |
|
Tax |
8.900 |
8.600 |
3.500 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
26.340 |
9.420 |
8.630 |
|
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 |
26.340 |
9.420 |
8.630 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.79
|
0.90 |
1.06 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.28
|
1.25 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.00
|
1.78 |
2.50 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.07 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.80
|
3.31 |
2.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.01
|
2.35 |
1.83 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
No |
|
8) No. of employees |
No |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
OPERATIONS
The overall performance of the Company showed significant improvement as compared to the previous year. The Company achieved turnover of Rs.12788.301 millions with around 4.5% growth as compared to previous year. Operating profit has increased by 11.27% at Rs.212.360 millions but Net Profit decreased by 8.76% at Rs.100.920 millions during the year.
Management of the Company under the direction of the Board of Directors is continued in achieving the targets of cutting down in the cost of operations and getting efficiency in this area by using better alternated resources/means.
BUSINESS EXPANSION
AND DIVERSIFICATION
Mining Business
On the front of recently diversified business of mining, the year under review has remained very productive as apart from getting final approval of Ministry of Mines, Government of India for earlier recommended mining concessions at Miragpur (M.P.) and Mahadulla (Mh.), the Company also got approval of one more Manganese mine at Nandia Loharpura (M.P.). Functioning from the aforesaid allotted Manganese mines can be started only after clearing various procedural formalities and grant of relevant permissions and approvals. However, the expect to complete all the formalities within a span of next one year from the date hereof.
Further the Company is also very keen to set up mineral based industry in Madhya Pradesh to process minerals to be explored from its own mines. Land has been identified at two locations and project work shall start in near future.
Better profitability and turnover is expected from these activities in future.
Real Estate Business
The integrated township project 'Active Acres' at Kolkata
launched in 2008 by Mahakosh Property Developers, a partnership wherein the
company is a major partner is continuously getting good response from all
segments of society being offered at very competitive rates at the best
location. Overwhelming response of the project is a good sign of the Company's
reputation and sustainability which will result in ample profits in the years
to come. Further the Company has also been allotted land by the Maharashtra
Industrial Development Corporation at Butibori Industrial Area in
New Dairy Plant
Anew Milk Processing plant with capacity to produce 30 Tons Milk Powder per day by processing 4 Lacs liters per day has been commissioned successfully at Dewas (M.P.) with total investment of around Rs.220.000 millions. The commercial production from the said plant is being taken successfully. This plant provides great opportunities of exports available in Milk Powder business to the Company resulting in good profits in the years to come.
In addition to that the Company is enthusiastically eying
the southern and the eastern region of the
OPPORTUNITIES AND
THREATS
Dairy Business:
In
Indian Dairy industry is in unorganized form where quality
of milk and animal are poor with yield per cow less than that foreign producer
who are on the verge of entering in Indian dairy market and will soon have
access to
Company is at present exporting SMPto different countries while the prospects of exporting WMP, Soya Protien Isolate and Concentrate and Casein is very bright. Export prospects of these products will help company to get noted in other countries.
Wind Power
In
Others
In current year monsoon remained favorable which have
resulted in coming out of recessionary trend spread over
The future performance of the company would depend to a large extent on its ability to successfully run its existing and forthcoming plants, successfully diversification, introduction and market of dairy products and other commodities in opportunity basis. They are hopeful that through the combination of market developments and expansion activity, there will be healthy growth over the next few years.
The Company has already shown positive signals in the recently entered mining business and gradually stated trading of major minerals, got success in getting, mining concession as well as effort are continuing one to get major area of manganese and iron ore under mining lease approved in its favour and to set up minerals based industries in minerals proven area.
Real Estate business is being carried out under M/s. Mahakosh Property Developers where in the company is a major partner under which an integrated township is being developed at Kolkata on total land of 17 acres with total construction area of approx. 20 lacs sq. ft. The project is very successful in terms of overwhelming response from all segment of society. The company is also having keen interest in entering into venture with the other real estate company to take its major hold.
CONTINGENT LIABILITIES NOT PROVIDED FOR
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
|
|
Rs in millions |
|
|
a) Outstanding Bank Guarantees |
43.818 |
19.997 |
|
b) Estimated amount of contracts remaining to be executed on capital
account (Net of advances) |
0.548 |
4.934 |
|
c) Income Tax / Sales tax/ Excise Duty demand disputed in appeal [Net of Advance paid Rs. 2,74,85,565 (Previous year Rs. 2,65,10,565 )
against disputed demand] |
39.493 |
37.612 |
|
d) Estimated liability of Customs Duty, which may arise if export
obligation/ commitment is not fulfilled |
11.794 |
13.322 |
|
e) Letter of Credit opened on behalf of others |
55.200 |
16.195 |
|
f) Guarantee issued by bank for and on behalf of third party against,
lien on fixed deposit |
2.147 |
0.000 |
|
g) Corporate Guarantee given on behalf of others |
600.000 |
0.000 |
|
h) Claims against the company not acknowledged as debt |
4.240 |
0.801 |
|
i) Bills Discounting with Banks |
359.743 |
284.798 |
|
TOTAL |
1116.983 |
377.659 |
FIXED
ASSETS
· Land
– Freehold
·
Land –Leasehold
· Buildings
· Plant and Machinery
· Furniture and Fixtures
· Laboratory Equipments
· 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.53.64 |
|
|
1 |
Rs.86.42 |
|
Euro |
1 |
Rs.69.28 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
52 |
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.