MIRA
INFORM REPORT
|
Report Date : |
17.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
SPENTA INTERNATIONAL LIMITED |
|
|
|
|
Registered
Office : |
Plot No 13, 14, 15, 16 and 40 (Part) and 40/2 Dewan Industrial Estate,
Village Navali, Palghar (west) Thane – 401404 |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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|
|
|
Date of
Incorporation : |
25.07.1986 |
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|
|
|
Com. Reg. No.: |
040482 |
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|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.31.154 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L28129MH1986PLC040482 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS17243C |
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|
Legal Form : |
A Public Limited Liability company. The company’s Share are Listed on
the Stock Exchange. |
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Line of Business
: |
Manufacture and Exporter of Cotton Socks |
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|
|
|
No. of
Employees: |
Not Available |
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 583000 |
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|
Status : |
Satisfctory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. 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 for small to mediocre business dealings
at usual trade terms and conditions |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office/Factory : |
Plot No 13, 14, 15, 16 and 40 (Part) and 40/2 Dewan Industrial Estate,
Village Navali, Palghar (west) Thane – 401404 |
|
Tel. No.: |
91-2525-254932/250056/250620 |
|
Fax No.: |
91-2525-254932 |
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|
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|
Corporate Office : |
86 and 87, |
|
Website : |
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Administrative office: |
87, Mahendra Chambers, 2nd
Floor 134/136 Dr. D.N.Road, Mumbai-400001, |
|
Tel. No.: |
91.22-22076396/22076397 |
|
Mobile No.: |
91-9323221887 (Mr. Sandeep Gadodia) |
|
Fax No.: |
91-22-22074378 |
|
E-Mail : |
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|
Website : |
DIRECTORS
|
Name : |
Mr. Sanjay S. Gadodaia |
|
Designation : |
Chairman and Whole Time Director |
|
|
|
|
Name : |
Mr. Danny F. Hansotia |
|
Designation : |
Managing Director |
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|
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|
Name : |
Mr. Sanddep S. Gadodaia |
|
Designation : |
Whole Time Director |
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|
|
|
Name : |
Mrs. Meena sehra |
|
Designation : |
Independent Non – Executive Director |
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|
|
|
Name : |
Mr. Chetan Rathod |
|
Designation : |
Independent Non – Executive Director |
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|
|
|
Name : |
Mr. Jayant Farsawani |
|
Designation : |
Independent Non – Executive Director (resigned w.e.f 5th
January 2011) |
As on 31.03.2012
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
1648384 |
52.97 |
|
|
1648384 |
52.97 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
1648384 |
52.97 |
|
(B)
Public Shareholding |
|
|
|
|
|
|
|
|
- |
- |
|
|
- |
- |
|
|
|
|
|
|
59661 |
1.92 |
|
|
|
|
|
|
824337 |
26.49 |
|
|
525404 |
16.88 |
|
|
54114 |
1.74 |
|
|
42500 |
1.37 |
|
|
11614 |
0.37 |
|
|
1463516 |
47.03 |
|
Total
Public shareholding (B) |
1463516 |
47.03 |
|
Total
(A)+(B) |
3111900 |
100.00 |
|
(C)
Shares held by Custodians and against which Depository Receipts have been
issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
- |
- |
|
Total
(A)+(B)+(C) |
3111900 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs. 0.100 millionBUSINESS DETAILS
|
Line of Business : |
Manufacture and Exporter of Cotton Socks |
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Products : |
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PRODUCTION STATUS As on 31.03.2011
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Pouch Heel and Real Heel Socks |
Pairs |
677000 |
6771361 |
|
|
|
|
|
Note:
Installed Capacity has been calculated on the
basis of machines running Pouch Heel and Real Heel Socks For
the number of machines making such
production as 31st amarch 2011 I 6 and 98 respectively ( pervious
year as 31st march, 2010 is 6 and 94 respectably)
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
·
Dena Bank, Share Bazaar Branch , Mumabai ·
Dena Bank Palghar Branch, Palghar ·
ICICI Bank Palghar Branch, Palghar ·
CITI Bank, Nariman Point Branch, Mumbai ·
DCB Limited, Nariman Point Branch, Mumbai |
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Facilities : |
(Rs.
in Millions)
|
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|
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Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
A.R. Parikh and Company Chartered Accountant |
|
Address : |
321, Parekah Market, 3rd Floor, Opera House, Mumbai –
400004, |
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E-Mail : |
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|
|
|
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Associates/Subsidiaries : |
· Carnival Properties Private Limited · Juvenile Trading Private Limited ·
Orient Socknit ( |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3500000 |
Equity Share |
Rs.10/- each |
Rs.35.000 Millions |
|
|
|
|
|
Issued, Share Capital
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3120000 |
Equity Share |
Rs.10/- each |
Rs.31.200
Millions |
|
|
|
|
|
Subscribed & Paid-up Capital
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3111900 |
Equity Share |
Rs.10/- each |
Rs.31.159
Millions |
|
|
Less Allotment money |
|
0.005 |
|
Total |
|
|
31.154 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 |
31.154 |
31.154 |
31.154 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
114.661 |
96.381 |
77.595 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
145.815 |
127.535 |
108.749 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
57.758 |
38.623 |
46.272 |
|
|
2] Unsecured Loans |
10.022 |
9.567 |
7.944 |
|
|
TOTAL BORROWING |
67.780 |
48.190 |
54.216 |
|
|
DEFERRED TAX LIABILITIES |
0.533 |
2.727 |
4.237 |
|
|
|
|
|
|
|
|
TOTAL |
214.128 |
178.452 |
167.202 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
90.142 |
96.792 |
97.885 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
|
|
|
DEFERREX TAX ASSETS |
34.145 |
13.509 |
10.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
39.204
|
20.940 |
22.281 |
|
|
Sundry Debtors |
26.140
|
31.235 |
32.644 |
|
|
Cash & Bank Balances |
50.482
|
49.930 |
19.885 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
53.917 |
37.167 |
33.346 |
|
Total
Current Assets |
169.743
|
139.272 |
108.156 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
31.002
|
32.876 |
23.187 |
|
|
Other Current Liabilities |
0.353
|
1.642 |
0.444 |
|
|
Provisions |
48.547
|
36.603 |
25.208 |
|
Total
Current Liabilities |
79.902
|
71.121 |
48.839 |
|
|
Net Current Assets |
89.841
|
68.151 |
59.317 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
214.128 |
178.452 |
167.202 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
205.084 |
214.334 |
183.903 |
|
|
|
Other Income |
3.888 |
2.937 |
0.846 |
|
|
|
TOTAL (A) |
208.972 |
217.271 |
184.749 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption of Raw Material |
120.275 |
111.505 |
97.461 |
|
|
|
Manufacturing Expenses |
33.387 |
38.886 |
29.942 |
|
|
|
Administrative and other expenses |
17.038 |
19.047 |
16.333 |
|
|
|
Variation in stocks |
(13.015) |
1.818 |
5.309 |
|
|
|
TOTAL (B) |
157.685 |
171.256 |
149.045 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
51.287 |
46.015 |
35.704 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8.904 |
7.623 |
6.876 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
42.383 |
38.392 |
28.828 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
14.938 |
14.116 |
13.217 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
27.445 |
28.276 |
15.611 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
9.165 |
9.491 |
2.718 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
18.280 |
18.785 |
12.893 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
94.380 |
75.595 |
62.702 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
112.660 |
94.380 |
75.594 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stores & Spares |
0.844 |
1.488 |
NA |
|
|
|
Plant and Machinery |
4.293 |
7.110 |
NA |
|
|
TOTAL IMPORTS |
5.137 |
8.598 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.87 |
6.03 |
4.14 |
|
QUARTERLY / SUMMARISED
RESULTS
|
PARTICULARS |
30.06.2011 1st
Quarter |
30.09.2011 2nd
Quarter |
31.12.2011 3rd
Quarter |
|
Net Sales |
57.830 |
74.320 |
69.110 |
|
Total Expenditure |
46.290 |
60.550 |
57.840 |
|
PBIDT (Excl OI) |
11.540 |
13.770 |
11.270 |
|
Other Income |
0.860 |
2.130 |
0.630 |
|
Operating Profit |
12.400 |
15.900 |
11.900 |
|
Interest |
1.830 |
1.830 |
2.040 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
10.570 |
14.070 |
9.860 |
|
Depreciation |
3.870 |
4.020 |
4.140 |
|
Profit Before Tax |
6.700 |
10.050 |
5.720 |
|
Tax |
1.450 |
3.460 |
3.130 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
5.250 |
3.460 |
2.590 |
|
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 |
5.250 |
3.460 |
2.590 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
8.74
|
8.64 |
6.98 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.38
|
13.19 |
8.49 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.57
|
11.98 |
7.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.22 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.01
|
0.94 |
0.95 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.12
|
1.96 |
2.21 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Construction
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
No |
|
No.
of Employees |
No |
|
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
the business |
Yes |
|
Details
of sister concerns |
- |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
Yes |
|
Export
/ Import Details [If Applicable] |
Yes |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
No |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
No |
FINANCIAL OPERATIONS:
The
turnover of the Company during the year 2010-11 has been Rs.205.084 MillionsThe
Company has posted a net profit of Rs.18.280 Millions On Account of increase in
depreciation, interest and finance charges, the net profit of the company has
marginally reduced during the year
FUTURE PROSPECTS:
The
Company through efficient production management system, automation and
modernization is confident of minimizing the risks and increasing the profits
of the Company in coming years.
INDUSTRY STRUCTURE
AND DEVELOPMENT:
Indian
Textile Industry is one of the leading textile industries in the world. Though
was predominantly unorganized industry even a few years back, but the scenario
started changing after the economic liberalization of Indian economy in 1991.
The opening up of economy gave the much-needed thrust to the Indian textile
industry, which has now successfully become one of the largest in the world.
Indian
textile industry largely depends upon the textile manufacturing and export. It
also plays a major role in the economy of the country. Further, the textile
industry of
The
management is taking all initiative for the substantial growth and development
of the Company.
OUTLOOK:
In
anticipation of growing demand; the Company has substantially expanded its
installed production capacity. The demand for cotton socks is rising as more
and more health conscious consumers prefer to have cotton socks over
viscose
or nylon socks which are of low quality and can be ramped up with incremental
machinery to meet the
expected
healthy growth in demand.
CONTINGENT LIABILITY
In respect guarantee provided by bank on
behalf of the Company Rs.2.865 Millions
(Previous year Rs.2.865 Million) and income Tax demand of Rs.0.662 Millions
(Previous year Rs.0.662 Millions) for the pervious year against which the
company has filed an appeal with the income Tax Appeallaate Tribunal, Mumbai.
The matter is Still pending with the said authority
AS PER WEB SITE DETAILS
PROFILE
SHAPING THE WORLD OF SOCKS
Subject is a specialist and one of the largest manufacturer
and exporter of COTTON SOCKS in
Subject is incorporated as a Public Limited Company and having a base of over 5000 share holders currently is managed by Mr. Danny Hansotia (Managing Director), Mr. Sanjay Gadodia (Whole Time Director) & Mr. Sandeep Gadodia, Directors of the company.
UNAUDITED RESULTS
|
PARTICULARS |
(Un Audited) 30.06.2011 1st
Quarter |
(Un Audited) 30.09.2011 2nd
Quarter |
(Un Audited) 31.12.2011 3rd
Quarter |
|
Net Sales/Interest Earned / Operating Income |
57.830 |
74.320 |
69.110 |
|
Other Income |
0.860 |
2.130 |
0.630 |
|
Expenditure |
(46.290) |
(60.560) |
(57.84) |
|
Interest |
(1.830) |
(1.830) |
(2.04) |
|
Profit Before Depreciation and Tax |
10.570 |
14.060 |
9.860 |
|
Depreciation |
(3.870) |
(4.020) |
(4.140) |
|
Profit before Tax |
6.700 |
10.040 |
5.710 |
|
Tax |
(1.450) |
(3.450) |
(3.120 |
|
Net Profit |
5.250 |
6.590 |
2.590 |
|
Equity Capital |
31.120 |
31.120 |
31.120 |
|
Basic And Diluted EPS after Extraordinary item |
1.69 |
2.12 |
0.83 |
|
Nos. of Shares - Public |
1462616 |
1462616 |
1462616 |
|
Percent of Shares-Public |
47.00 |
47.03 |
47.03 |
|
Operating Profit Margin |
21.440 |
21.380 |
17.220 |
|
Net Profit Margin |
9.080 |
8.870 |
3.750 |
|
Cash EPS |
2.930 |
3.41 |
2.16 |
Note:
· The results displayed here are as furnished by the company at the relevant point of time.
· Operating Profit Margin, Net Profit Margin and Cash EPS is calculated and not furnished by the company.
· Quarterly, Half Yearly, Annual will be displayed for current period and 3 immediately preceding periods.
·
Where no data is available for any of the
immediately preceding period, then there will be no display for that period.
Fixed Assets:
·
Freehold land
·
Building and Civic Works
Old Factory Shed
New Factory Shed
·
Plant and Machinery
·
Office Equipment
·
Computers
·
Furniture and Fixtures
·
Miscellaneous Fixed
Assets
·
Motor Cars
·
Flat At Palghar
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.54.29 |
|
|
1 |
Rs.86.61 |
|
Euro |
1 |
Rs.69.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
BYI |
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 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
YES |
|
--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.