MIRA
INFORM REPORT
|
Report Date : |
30.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
MENON AND MENON LIMITED |
|
|
|
|
Formerly Known
As : |
MENON AND MENON PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Vikram Nagar, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
06.10.1969 |
|
|
|
|
Com. Reg. No.: |
11-014404 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 20.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29119MH1969PLC014404 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
KLPM01585D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM8804C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Grey Iron Castings and Hydraulic Assemblies. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 796000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is a well established company having satisfactory track. The
financial position of the company appears to be strong. Trade relations are reported as decent. Business is active. Payments
terms are usually correct and as per commitments. The company can be considered for business dealings at usual trade
terms and conditions. Note: Due to XBRL Problem, financial of 2012 cannot viewed. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Term Loan and Cash Credit : BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
January 31, 2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Letter of Credit |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
January 31, 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED
MANAGEMENT NON CO-OPERATIVE [91-231-2687144]
LOCATIONS
|
Registered Office : |
Vikram Nagar, Kolhapur – 416005, Maharashtra |
|
Tel. No.: |
91-231-2687144/ 3295002/ 2652455 |
|
Fax No.: |
91-231-2687205 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 06.06.2012
|
Name : |
Mr. Vijay Chandran Menon |
|
Designation : |
Managing Director |
|
Address : |
Kairali Bungalow, Tarabai Park, Kolkhapur – 416003, Maharashtra, India |
|
Date of Birth/Age : |
21.06.1956 |
|
Qualification : |
B.E. (Mech.) MBA (Illinois State University , USA) |
|
Date of Appointment : |
30.09.1994 |
|
DIN No.: |
00254390 |
|
|
|
|
Name : |
Mr. Ram Krishna Menon |
|
Designation : |
Director |
|
Address : |
Menon Enclave 1, R.S. No. 262/E, Patolewadi, Kolkhapur – 416005,
Maharashtra, India |
|
Date of Birth/Age : |
20.07.1930 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
06.10.1969 |
|
DIN No.: |
00111469 |
|
|
|
|
Name : |
Mr. Jaysinh Sakharam Konkar |
|
Designation : |
Director |
|
Address : |
302 Vinspa Apartments, 6 Boat Club Road, Pune – 411004, Maharashtra,
India |
|
Date of Birth/Age : |
24.04.1943 |
|
Qualification : |
B.E. ( Mech.) , M.E.( Prod.), Diploma ( Opns. Mgt ) |
|
Date of Appointment : |
18.09.2002 |
|
DIN No.: |
00011924 |
|
|
|
|
Name : |
Mr. Chidambaranathan Ramakrishnan |
|
Designation : |
Director |
|
Address : |
Flat No. 202, Vishnu Deep Apartments No. 23, 7th Main,
Between 8 and 9th Cross Malleswaram, Bangalore – 560003, Karnataka,
India |
|
Date of Birth/Age : |
25.04.1960 |
|
Qualification : |
Graduate in
Mechanical engineering, Completed a Full time One Year Course on Statistical
Quality Control and Operations Research conducted by Indian Statistical
Institute, Chennai, India and Certified Quality Engineer from American
Society for Quality. |
|
Date of Appointment : |
03.09.2004 |
|
DIN No.: |
00481651 |
|
|
|
|
Name : |
Mr. Biplab Majumder |
|
Designation : |
Nominee director |
|
Address : |
No. 3298, 12th “A” Main, Hal 2nd Stage,
Bangalore – 560008, Karnataka, India |
|
Date of Birth/Age : |
14.09.1948 |
|
Date of Appointment : |
21.10.2011 |
|
DIN No.: |
00064467 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 06.06.2012
|
Names of Shareholders |
|
No. of Shares |
|
Vijay Chandran Menon |
|
1627866 |
|
Padmini Chandran Menon |
|
170300 |
|
Satish Chandran Menon |
|
830034 |
|
Menon Vijay Preeti |
|
254600 |
|
K. Parmeswaran |
|
11600 |
|
Sreedharan Vinod |
|
11600 |
|
Menon Vijay Divya |
|
50000 |
|
Reliance Capital Limited, India |
|
780000 |
|
Reliance Shares and Stock Brokers Limited, India |
|
264000 |
|
Total |
|
4000000 |
AS ON 23.08.2012
|
Names of Allottees |
|
No. of Shares |
|
Vijay Chandran Menon |
|
1627866 |
|
Padmini Chandran Menon |
|
170300 |
|
Satish Chandran Menon |
|
830034 |
|
Menon Vijay Preeti |
|
254600 |
|
K. Parmeswaran |
|
11600 |
|
Sreedharan Vinod |
|
11600 |
|
Menon Vijay Divya |
|
50000 |
|
Reliance Capital Limited, India |
|
780000 |
|
Reliance Shares and Stock Brokers Limited, India |
|
264000 |
|
Total |
|
4000000 |
AS ON 06.06.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
26.00 |
|
Other
top fifty shareholders |
|
74.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Grey Iron Castings and Hydraulic Assemblies. |
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Products : |
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GENERAL INFORMATION
|
Customers : |
Ø Mahindra Ø Maruti Ø Sonalika
International Ø Tata Ø John Deere Ø Eicher Ø Voltas Limited |
||||||||||||||||||||||||||||||||||||
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No. of Employees : |
Information declined by management |
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Bankers : |
The Saraswat Co-operative Bank Limited, C.T.S. No. 1716, E Ward
Rajarampuri, 7th Lane, Kolhapur – 416008, Maharashtra, India |
||||||||||||||||||||||||||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P.M. Vardhe Chartered Accountant |
|
Address : |
630, E Shahupuri, 1st Lane, Kolhapur –
416001, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AANPV5690A |
CAPITAL STRUCTURE
AFTER 06.06.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 80.000 Millions |
|
2,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 20.000 Millions |
|
|
Total |
|
Rs. 100.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 80.000
Millions |
|
|
|
|
|
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 80.000 Millions |
|
2,000,000 |
Preference Shares |
Rs. 10/- each |
Rs. 20.000 Millions |
|
|
Total |
|
Rs. 100.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000
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 |
20.000 |
20.000 |
20.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
179.026 |
87.246 |
61.145 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
199.026 |
107.246 |
81.145 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
122.899 |
145.077 |
240.128 |
|
|
2] Unsecured Loans |
15.833 |
11.250 |
22.500 |
|
|
TOTAL BORROWING |
138.732 |
156.327 |
262.628 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
4.685 |
6.829 |
|
|
|
|
|
|
|
|
TOTAL |
337.758 |
268.258 |
350.602 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
272.304 |
252.356 |
293.892 |
|
|
Capital work-in-progress |
7.017 |
0.800 |
0.427 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.025 |
0.000 |
0.050 |
|
|
DEFERREX TAX ASSETS |
0.330 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
71.109
|
63.338 |
74.490 |
|
|
Sundry Debtors |
90.112
|
60.467 |
120.599 |
|
|
Cash & Bank Balances |
21.567
|
22.606 |
2.566 |
|
|
Other Current Assets |
2.805
|
2.990 |
6.772 |
|
|
Loans & Advances |
59.942
|
19.020 |
19.822 |
|
Total
Current Assets |
245.535
|
168.421 |
224.249 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
105.685
|
67.690 |
61.939 |
|
|
Other Current Liabilities |
49.971
|
49.613 |
48.361 |
|
|
Provisions |
31.797
|
36.016 |
57.716 |
|
Total
Current Liabilities |
187.453
|
153.319 |
168.016 |
|
|
Net Current Assets |
58.082
|
15.102 |
56.233 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
337.758 |
268.258 |
350.602 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1501.394 |
1165.499 |
1026.897 |
|
|
|
Other Income |
3.362 |
4.785 |
1.224 |
|
|
|
TOTAL (A) |
1504.756 |
1170.284 |
1028.121 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
592.057 |
471.162 |
|
|
|
|
Manufacturing service costs |
433.229 |
329.295 |
|
|
|
|
Employee related expenses |
200.318 |
190.274 |
|
|
|
|
Administrative selling other expenses |
66.337 |
47.106 |
|
|
|
|
TOTAL (B) |
1291.941 |
1037.837 |
931.181 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
212.815 |
132.447 |
96.940 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
34.999 |
48.701 |
50.586 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
177.816 |
83.746 |
46.354 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
36.497 |
43.457 |
39.676 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
141.319 |
40.289 |
6.678 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
46.041 |
14.188 |
2.244 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
95.278 |
26.101 |
4.434 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
59.112 |
33.011 |
28.577 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
30.000 |
0.000 |
0.000 |
|
|
|
Dividend |
3.000 |
0.000 |
0.000 |
|
|
|
Tax on Dividend |
0.498 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
120.892 |
59.112 |
33.011 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
47.64 |
13.05 |
2.21 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
6.33 |
2.23 |
0.43 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.41 |
3.46 |
0.65 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
27.29 |
9.57 |
1.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.71 |
0.38 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.64 |
2.89 |
5.31 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.31 |
1.10 |
1.33 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
Creditors due small micro enterprises |
8.641 |
13.660 |
9.190 |
|
Creditors due others |
97.044 |
54.030 |
52.749 |
|
Sundry creditors |
105.685 |
67.690 |
61.939 |
|
Sr. No. |
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 |
Yes |
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
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 |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
PERFORMANCE
The Indian GDP
continued its strong recovery and achieved robust growth rates exceeding 8% in all
quarters of the year. The growth was evenly spread across most of the segments
of the economy and in some cases like the Automotive Sector the surging demand
exceeded 26.7% for the passenger car and 32.62% for the commercial vehicle
industry.
The tractor
industry also recorded a growth of over 23.8% (TMA Report April 2011) during
this period. Consequently there was a very high demand for the company’s
products. During the year, the Company recorded net sales of Rs.1501.000
Millions, an increase of around 29.80% over Rs.1156.700 Millions in the
previous year. The Company achieved a profit before tax of Rs.141.300 Millions
as compared to Rs.40.300 Millions for the previous year. The increased
profitability is due to the various cost saving and productivity improvement
measures taken by the Company. The Company’s components are exported to US and
Europe mainly through John Deere India Private Limited and SAME Deutz Fahr
India Limited to the tune of Rs. 523.651 Millions. The rapid recovery of the
growth momentum in the year 2010-11 was comforting. We expect the growth
momentum to continue.
However there are
a couple of concerns namely inflation and the economic fallout due to the
changing geo political situation across the globe. An immediate effect is volatility
in commodity and petroleum prices. Going forward this volatility can have a
very significant impact on demand as well as margins. The continued rise in
interest rates, as one of the measures for controlling inflation, could impact
growth. They expect that major investments in infrastructure during the coming
years may help offset the negative sentiments caused by rising interest rates
and input prices, and fuel demand in the long run.
FIXED ASSETS:
Tangible assets:
Ø Land
Ø Factory Building
Ø Well Borewell
Ø Roads
Ø Plant and
Machinery
Ø Patterns
Ø Furniture and
Fixture
Ø Moulding Boxes
Ø Electrical
Installation
Ø Office Equipment
Ø Vehicles
Intangible assets:
Ø Goodwill
Ø Software
Development
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 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. 55.20 |
|
|
1 |
Rs. 88.38 |
|
Euro |
1 |
Rs. 71.47 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
51 |
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.