MIRA
INFORM REPORT
|
Report Date : |
17.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
ADD CORPORATION LIMITED (w.e.f 07.11.1999) |
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Formerly Known
As : |
ADD PENS LIMITED |
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Registered Office
: |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
28.08.1997 |
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Com. Reg. No.: |
11-110325 |
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Capital
Investment / Paid-up Capital : |
Rs. 145.000 Millions |
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CIN No.: [Company Identification
No.] |
U36991MH1997PLC110325 |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of writing Equipments. |
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No. of Employees
: |
22 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 860000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having satisfactory
track records. There appears continous deep in the profitability of the
company. However, trade relations are reported as fair. Business is active.
Payments are reported to be usually correct 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 PARTED BY
|
Name : |
Mr. Rajendra Jhajharia |
|
Designation : |
Accountants Manager |
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Contact No.: |
91-9969498516 |
|
Date : |
14.05.2012 |
LOCATIONS
|
Registered Office : |
Business Park, 6th Floor, S V Road, Malad (West), Mumbai
400064, Maharashtra, India |
|
Tel. No.: |
91-22-28767171/65707171 |
|
Mobile No.: |
91-9969498516 (Mr. Rajendra Jhajharia) |
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Fax No.: |
91-22-28767878 |
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E-Mail : |
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Website : |
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Area : |
6000 sq ft |
|
Location : |
Rented |
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Factory : |
Plot No. 279, GIDC, Umbergaon, Dist. Valsad – 400064, Gujarat, India |
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Tel. No.: |
91-260-2564982 |
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Area : |
20,000 sq ft |
|
Location : |
Owned |
DIRECTORS
As on 16.09.2011
|
Name : |
Mr. Manakchand Jain |
|
Designation : |
Director |
|
Address : |
801, Milleniumgarden, Upper Govind Nagar, Malad (East), Mumbai –
400097, Maharashtra, India |
|
Date of Birth/Age : |
11.07.1955 |
|
Date of Appointment : |
28.08.1997 |
|
DIN No.: |
00034113 |
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|
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|
Name : |
Mr. Shrenik M Jain |
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Designation : |
Director |
|
Address : |
801, Milleniumgarden, Upper Govind Nagar, Malad (East), Mumbai –
400097, Maharashtra, India |
|
Date of Birth/Age : |
11.05.1985 |
|
Date of Appointment : |
15.04.2011 |
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DIN No.: |
00034171 |
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Name : |
Mr. Pradeep Jain |
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Designation : |
Director |
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Address : |
801, Milleniumgarden, Upper Govind Nagar, Malad (East), Mumbai –
400097, Maharashtra, India |
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Date of Birth/Age : |
05.08.1962 |
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Date of Appointment : |
03.03.2006 |
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DIN No.: |
02257946 |
KEY EXECUTIVES
|
Name : |
Mr. Rajendra Jhajharia |
|
Designation : |
Accountants Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 16.09.2011
|
Names of Equity Shareholders |
|
No. of Shares |
|
Manakchand Jain |
|
6829500 |
|
Kiran M Jain |
|
100 |
|
Deepak Jain |
|
670000 |
|
Champalal Jain |
|
100 |
|
Naresh Jain |
|
100 |
|
Ghisalal Jain |
|
100 |
|
Jane Vaz Luiz |
|
100 |
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|
|
|
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Total |
|
7500000 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Tizara Polytech Private Limited, India |
|
600000 |
|
Total |
|
600000 |
Equity Share Break up (Percentage of Total Equity)
As on 16.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.99 |
|
Other top fifty shareholders |
0.01 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Writing Equipments. |
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Product: |
ITC Code NO |
Product Description |
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960810 |
Ballpen |
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Exports : |
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Products : |
Writing Equipments |
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Countries : |
Saudi Arebia |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Korea, Japan |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
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PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Unit |
Actual
Production |
|
Pens |
Pcs. |
18388178 |
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Markers |
Pcs. |
594769 |
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Pencil |
Pcs. |
1388033 |
GENERAL INFORMATION
|
Suppliers : |
·
Utility Print pack Private Limited |
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Customers : |
Retailers, End Users ·
Godrej Consumer Products |
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No. of Employees : |
22 (Approximately) |
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Bankers : |
State Bank of India, IFB, Malad (West), Mumbai 400064, Maharashtra,
India |
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Facilities : |
CC- Rs. 76.000 Millions (Rs. in Millions)
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
K M Garg and Company Chartered Accountant |
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Address : |
603-604, unique Tower, Off S V Road, Goregaon (West), Mumbai 400062,
Maharashtra, India |
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PAN.: |
AAEFK4654J |
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Other Related
Parties: |
·
Tizara Poly-Tech Private Limited, India (CIN No. U36991MH1997PTC111891) ·
Ninth Wonder Properties Private Limited ·
Roll Tech ·
Gel Tech ·
Enfield Goods and Service Private Limited, India (CIN No. U52190WB1995PTC068334) ·
Add Sales and Marketing Private Limited,
India (CIN No. U51909MH2003PTC143353) |
CAPITAL STRUCTURE
As on 16.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8500000 |
Equity Shares |
Rs.10/- each |
Rs. 85.000 Millions |
|
1150000 |
Preference Share |
Rs.100/- each |
Rs.115.000 Millions |
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|
|
|
|
|
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Total |
|
Rs. 200.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7500000 |
Equity Shares |
Rs.10/- each |
Rs.75.000
Millions |
|
600000 |
Preference Share |
Rs.100/-
each |
Rs.60.000
Millions |
|
|
|
|
|
|
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Total |
|
Rs. 135.000 Millions |
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8500000 |
Equity Shares |
Rs.10/- each |
Rs. 85.000 Millions |
|
1150000 |
Preference Share |
Rs.100/- each |
Rs.115.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 200.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7500000 |
Equity Shares |
Rs.10/- each |
Rs.75.000
Millions |
|
700000 |
Preference Share |
Rs.100/-
each |
Rs.70.000
Millions |
|
|
|
|
|
|
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Total |
|
Rs. 145.000 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 |
145.000 |
175.000 |
190.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
71.652 |
68.332 |
63.657 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
216.652 |
243.332 |
253.657 |
|
|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
89.619 |
120.248 |
149.409 |
|
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2] Unsecured Loans |
8.016 |
15.501 |
32.664 |
|
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TOTAL BORROWING |
97.635 |
135.749 |
182.073 |
|
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DEFERRED TAX LIABILITIES |
15.597 |
15.233 |
11.967 |
|
|
|
|
|
|
|
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TOTAL |
329.884 |
394.314 |
447.697 |
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APPLICATION OF FUNDS |
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|
|
|
|
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|
|
|
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FIXED ASSETS [Net Block] |
202.223 |
222.196 |
238.355 |
|
|
Capital work-in-progress |
0.635 |
0.365 |
1.937 |
|
|
|
|
|
|
|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
|
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
109.440
|
108.920
|
107.455 |
|
|
Sundry Debtors |
24.482
|
72.568
|
122.296 |
|
|
Cash & Bank Balances |
5.607
|
9.123
|
14.243 |
|
|
Other Current Assets |
1.424
|
1.515 |
0.000 |
|
|
Loans & Advances |
6.486
|
12.427
|
12.627 |
|
Total
Current Assets |
147.439
|
204.553 |
256.621 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
15.635
|
22.096 |
35.635 |
|
|
Other Current Liabilities |
3.807
|
6.026 |
9.893 |
|
|
Provisions |
1.081
|
4.882 |
3.986 |
|
Total
Current Liabilities |
20.523
|
33.004 |
49.514 |
|
|
Net Current Assets |
126.916
|
171.549 |
207.107 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.110 |
0.204 |
0.298 |
|
|
|
|
|
|
|
|
TOTAL |
329.884 |
394.314 |
447.697 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
260.973 |
265.341 |
387.471 |
|
|
|
Other Income |
37.632 |
2.887 |
1.518 |
|
|
|
TOTAL (A) |
298.605 |
268.228 |
388.989 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption material changes inventories |
125.963 |
116.847 |
|
|
|
|
Manufacturing services costs |
6.787 |
6.570 |
|
|
|
|
Contract Cost |
10.672 |
11.988 |
|
|
|
|
Employee related expenses |
15.990 |
16.178 |
|
|
|
|
Administrative selling other expenses |
81.348 |
40.629 |
|
|
|
|
TOTAL (B) |
240.760 |
192.212 |
296.924 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
27.845 |
76.016 |
92.065 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
16.673 |
24.473 |
23.974 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
41.172 |
51.543 |
68.091 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
35.693 |
42.015 |
43.978 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
5.479 |
9.528 |
24.113 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
2.158 |
4.23 |
10.839 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
3.321 |
4.675 |
13.274 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
50.332 |
60.657 |
47.383 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to Capital Redemption Reserve |
30.000 |
15.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
23.653 |
50.332 |
60.657 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
6.765 |
2.089 |
5.139 |
|
|
TOTAL EARNINGS |
6.765 |
2.089 |
5.139 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
39.494 |
13.242 |
22.910 |
|
|
|
Stores & Spares |
0.256 |
0.372 |
12.170 |
|
|
|
Capital Goods |
19.271 |
14.957 |
19.370 |
|
|
|
Others |
5.791 |
9.262 |
2.272 |
|
|
TOTAL IMPORTS |
64.812 |
37.833 |
56.722 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.44 |
0.62 |
1.77 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover |
|
|
290.000 |
Expected Sales (2012-2013): Rs.300.000 Millions
The above information has been parted by Mr. Rajendra Jhajharia –
Accountant Manager
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.11
|
1.74 |
3.41 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.09
|
3.55 |
6.22 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.72
|
4.66 |
9.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.04 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.09
|
0.14 |
0.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
7.18
|
6.19 |
5.18 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors Details:
Rs. In Millions
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
Micro, Small and Medium Enterprise and
others |
0.952 |
3.155 |
28.759 |
|
Others |
14.683
|
18.941 |
6.876 |
|
Total |
15.635
|
22.096 |
35.635 |
|
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 |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
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 |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
Yes |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
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 sale and other income for 2010-11 was Rs.298.600 Millions as compared to Rs. 268.200 Millions in 2009-10. Profit/(Loss) after tax for the current year is Rs. 3.321 Millions against Profit / (Loss) after tax of Rs. 4.675 Millions in the last year. The Company is focusing more on the institutional sales, corporate sales, and exports of high end products and development of foreign and new market for its exclusive pens range of products to widen its product base and improve its profitability.
In the year under report, company has successfully setup its distribution network through its associate concern who are operating branches, maintained through- out the country and has also taken major steps to promote its products and is hopeful to reap the benefits of increase in turnover and margins in coming years.
CONTINGENT LIABILITIES As on
31.03.2011
|
Particulars |
31.03.2011 |
|
Letters of
Credit. |
11.974 |
|
Guarantees
issued by Bankers covered by Fixed deposit given by the Company. |
2.589 |
|
Third Party
Guarantees issued By Company |
58.000 |
|
Bonds executed in
favour of the Customs |
42.964 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U36991MH1997PLC110325 |
|
Name of the
company |
ADD CORPORATION LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Business Park, 6th Floor, S V Road, Malad (West), Mumbai
400064, Maharashtra, India Email: info@addpens.com |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
90158278 |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
State Bank of India, IFB, Malad (West), Mumbai 400064, Maharashtra,
India Email: nitin.vaity@sbi.co.in
|
|
Nature of
instrument creating charge |
No instrument was executed. Charge created by way of equitable
mortgage by deposit of title deeds by constructive delivery. |
|
Date of instrument
Creating the charge |
20.12.2007 |
|
Amount secured by
the charge |
Rs. 227.100 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Not Applicable Terms of Repayment Not Applicable Margin Not Applicable Extent and Operation of the charge Security to cover the principal amount and all interest, discount,
commission, charges and cost and other expenses etc. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Land and buildings and
erections thereon (both present and future) situate at Plot No. 279, at
Umbargaon Notified Industrial Area, GIDC, Umbergaon (Gujarat) |
|
Date of
instrument modifying the charge |
20.10.2007 |
|
Particulars of
the present modification |
Charge over immovable property is extended to secure the enhanced
credit facilities aggregating Rs.227.100 Millions |
TRADE REFERENCE
·
Utility Print pack Private Limited
·
Godrej Consumer Products
FIXED ASSETS:
·
Leasehold Land
·
Building
·
Plant and Machinery
·
Accessories
·
Electrical Installation
·
Dies and Moulds
·
Furniture and Fixtures
·
Office Equipments
·
Vehicles
AS PER WEBSITE DETAILS
HISTORY
“ADD” is a name synonymous to premium quality writing instruments in India and Sub-continent. Subject was set up in 1987 with a clear vision to become a leader in writing technology. From the humble beginnings, the company has grown into one of India's leading manufacturer of Writing Instruments. This phenomenal progress has seen many landmark moments over 2 decades. Subject a flagship company of the ADD Group spells the success story of the Writing Instruments. Based on sound human values and principles, following ethical practices and by using state – of the art technology, ADD has pioneered in Gel Ink pens in India and quickly followed it with ball pens, roller pens and utility products like markers, highlighters, etc.
Today, Subject has created a niche for itself by giving customers the highest
quality writing instruments in India. Having achieved the leadership in Gel
Pens technology, ADD also enjoys a reputation for introducing new products.
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] 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.54.29 |
|
|
1 |
Rs.86.60 |
|
Euro |
1 |
Rs.68.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
42 |
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.