MIRA INFORM REPORT
|
Report Date : |
03.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
VISTA PACKAGING PRIVATE LIMITED |
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Registered
Office : |
Prasad Industries Estate, Sativali Vasai (East), District Thane – 401202, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
23.03.2006 |
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Com. Reg. No.: |
11-160658 |
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Capital
Investment / Paid-up Capital : |
Rs. 79.200 Millions |
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CIN No.: [Company Identification
No.] |
U74950MH2006PTC160658 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV13523G |
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PAN No.: [Permanent Account No.] |
AACCV2140D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturers and Exporters of CPP film and Flexible
Laminates. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 250000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Even though
the company has achieved growth in its sales during 2011, it has incurred
loss. Liquidity position of the company is under pressure. Accumulated losses
recorded by the company appears to be increasing. However, trade relations are reported as fair. Business is active.
Payments are reported as slow. The company can be considered for business dealings with some caution. |
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
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.
LOCATIONS
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Registered Office/ Factory : |
Prasad Industries Estate, Sativali Vasai (East), District Thane – 401202, |
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Tel. No.: |
91-250-2480003 / 2480004 / 2481385 |
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Fax No.: |
91-250-2480380 |
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E-Mail : |
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Website : |
DIRECTORS
AS ON 21.09.2011
|
Name : |
Mrs. Zarina Fakhruddin Rangwala |
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Designation : |
Director |
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Date of Appointment : |
01.01.2007 |
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PAN No.: |
ABSPB4796R |
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DIN No.: |
00744924 |
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Other Directorship: |
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Name : |
Mr. Fakhruddin Fidahusain Rangwala |
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Designation : |
Director |
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Date of Appointment : |
23.03.2006 |
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PAN No.: |
AACPB2936N |
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DIN No.: |
00868738 |
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Other Directorship: |
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Name : |
Mr. Maheshkumar Maganlal M Chandaria |
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Designation : |
Director |
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Date of Appointment : |
30.05.2009 |
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DIN No.: |
02601632 |
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Other Directorship: |
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KEY EXECUTIVES
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Name : |
Mr. Dinesh Karnik |
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Designation : |
General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 21.09.2011
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Names of Equity Shareholders |
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No. of Shares |
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Goldlinks Investments Limited, |
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900000 |
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Goldlinks Investments Limited, |
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2368400 |
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F. Rangwala |
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10100 |
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Z.F. Rangwala |
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100 |
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Total |
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3278600 |
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Names of Preference Shareholders |
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No. of Shares |
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Goldlinks Investments Limited, |
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464135 |
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Total |
|
464135 |
AS ON 21.09.2011
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Bodies
corporate |
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99.69 |
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Directors
or relatives of directors |
|
0.31 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporters of CPP film and Flexible
Laminates. |
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Laminate Film |
Mtpa |
3300.00 |
278.30 |
|
Wax Paper |
Mtpa |
255.00 |
70.02 |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
M.M. Nissim and Company Chartered Accountants |
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Address : |
Barodawala
Mansion, B Wing, 3rd Floor, 81, Dr. Annie Besant Road, Worli, Mumbai –
400018, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFM5103E |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 40.000 Millions |
|
500,000 |
Preference Shares |
Rs. 100/- each |
Rs. 50.000 Millions |
|
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Total |
|
Rs. 90.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,278,600 |
Equity Share |
Rs.10/- each |
Rs. 32.786
Millions |
|
464,135 |
Preference Shares |
Rs. 100/- each |
Rs. 46.414
Millions |
|
|
Total |
|
Rs. 79.200 Millions |
Note:
1. The 32,68,400
Equity Shares and Preference shares are held by Goldlinks Investment Limited,
Mauritius, the Holding Company.
2. The Convertible
Redemable Preference Shares are redemable at par at any time on and after a
period of 7 years at the option of the company but in any case before 2016.
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 |
79.200 |
79.200 |
79.200 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.328 |
|
|
4] (Accumulated Losses) |
(16.172) |
(10.580) |
0.000 |
|
|
NETWORTH |
63.028 |
68.620 |
79.528 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
53.072 |
25.564 |
11.965 |
|
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
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TOTAL BORROWING |
53.072 |
25.564 |
11.965 |
|
|
DEFERRED TAX LIABILITIES |
5.244 |
3.783 |
2.927 |
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|
|
|
|
|
|
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TOTAL |
121.344 |
97.967 |
94.420 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
45.029 |
50.199 |
51.804 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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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 |
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|
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Inventories |
28.838
|
14.781 |
16.911 |
|
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Sundry Debtors |
23.548
|
13.335 |
11.519 |
|
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Cash & Bank Balances |
23.857
|
9.570 |
8.299 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
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Loans & Advances |
23.124
|
18.907 |
20.499 |
|
Total
Current Assets |
99.367
|
56.594 |
57.228 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
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Sundry Creditors |
12.879
|
4.769 |
7.453 |
|
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Other Current Liabilities |
7.280
|
1.910 |
5.075 |
|
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Provisions |
2.893
|
2.147 |
2.084 |
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Total
Current Liabilities |
23.052
|
8.826 |
14.612 |
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Net Current Assets |
76.315
|
47.768 |
42.616 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
121.344 |
97.967 |
94.420 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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|
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Income |
|
71.383 |
76.623 |
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|
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Other Income |
|
3.683 |
6.191 |
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|
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TOTAL (A) |
97.405 |
75.066 |
82.814 |
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Less |
EXPENSES |
|
|
|
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|
|
|
Manufacturing and Other Expenses |
|
79.257 |
83.198 |
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TOTAL (B) |
101.535 |
79.257 |
83.198 |
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|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(Including
Interest and Depreciation) |
(4.191) |
(0.384) |
|
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|
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Less |
FINANCIAL
EXPENSES (D) |
|
2.226 |
1.505 |
|
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|
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
(6.417) |
(1.889) |
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|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
3.612 |
3.422 |
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|
PROFIT BEFORE
TAX (E-F) (G) |
(4.130) |
(10.029) |
(5.311) |
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Less |
TAX (H) |
1.462 |
0.879 |
0.837 |
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|
PROFIT AFTER TAX
(G-H) (I) |
(5.592) |
(10.908) |
(6.148) |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(10.580) |
0.328 |
6.476 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(16.172) |
(10.580) |
0.328 |
|
|
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|
|
|
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|
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export on FOB basis |
42.269 |
41.615 |
40.356 |
|
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IMPORTS |
|
|
|
|
|
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|
Raw Materials |
Nil |
1.135 |
0.881 |
|
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|
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|
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|
|
|
Earnings Per
Share (Rs.) |
(
3.12) |
(4.74) |
(11.69) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(5.74) |
(14.53) |
(7.42) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
N.A. |
(14.05) |
(6.93) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.86) |
(9.39) |
(4.87) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.07) |
(0.15) |
(0.07) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.21 |
0.50 |
0.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.31 |
6.41 |
3.92 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
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 |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
FINANCIAL RESULTS
The key financial
data of the performance of the year as compared to the previous year are given
hereunder. It would be observed there from that there has been increase in
sales from Rs. 75.067 Millions to Rs. 97.405 Millions i.e. an increase of
29.75%. Despite the increase in the sales there has been a lower gross profit
on account of the higher cost of raw materials and other variables cost.
Further the margins were also under pressure on account of severe competition.
After adjusting other income the net loss for the year works out to Rs.4.130
Millions as compared to Rs.10.029 Millions in the previous year. The Company
has endeavoured to export its products to the developed countries and has
widened its marketing base. This together with the local efforts to penetrate
the market may improve the sales performance during the current year. The
Company shall achieve sales till end of Sept’11 Rs.75.000 Millions and is
expecting Rs.95.000 Millions by end of Mar’12, total sales expected will be
Rs.1700.00 till 31st March’2012 increase by 75% of previous year
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U74950MH2006PTC160658 |
|
Name of the
company |
VISTA PACKAGING
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Prasad Industries Estate, Sativali Vasai (East), District Thane – 401202,
Maharashtra, India Email ID: vista@vistapackaging.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10191728 |
|
Type of charge |
Immovable
Property Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
Bank of India,
Tamtalao Br.,Mulgaon, Vasai (West), Thane – 401201, Maharashtra, India Email ID: Tamtalao.RaigadThane@bankofindia.co.in
|
|
Nature of
description of the instrument creating or modifying the charge |
1) Supplemental
deed of Hypothecation & 2) Record of Extension of Equitable Mortgage both
dated 03.08.2012 constituting modification to a single charge. |
|
Date of
instrument Creating the charge |
03.08.2012 |
|
Amount secured by
the charge |
Rs. 64.500 Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest CC:5%Over BR
presently 15.75% p.a. with monthly rests, EPC,FBP:12.75% or as applicable to export
credit, LC/BG: as per extant guidelines or at such other rate/s as may be
notified by the bank. Terms of Repayment On Demand. Margin CC(Stock):25%,CC(Book
Debts):40%, EPC:25%, FBP:15%, LC:25%, BG:25% or as required by the bank from
time to time. Extent and Operation of the charge Security and
charge hereby created shall be by way of 1st charge on all said hypothecated
assets and mortgaged property for due
payment as provided in deed of all monies including principal sums,
interest/commission, costs, charges &expenses.& all other monies
whatsoever due owing and payable by Borrower to Bank under or in respect of
or in connection with or in any wise concerning or relating to the said
facilities agreed to be granted &/or granted by Bank to borrower and also
for due repayment of all present & future indebtedness &liabilities of borrower to Bank of any
kind in any manner whether solely or jointly primary or collateral accrued or
accruing with all relative interest/commission, charges, costs and expenses.
Revised Facilities & Limits (Rs. in Millions): FB - 1) (i) CC(Stock)
Rs.7.500, (ii)CC(BD 90 days) Rs.3.500 Max.(i+ii) Rs.10.000, 2)EPC Rs.20.000,
3)FBP DP/DA 9.000 days Rs.20.000, Total FB Rs.50.000, NFB -1 a)L/C DP/DA
12.000 days Rs.12.000, b) BG(max.3 years) Rs.2.500 - Total NFB Rs.14.500 -
Total Limit (FB+NFB) Rs.64.500. |
|
Short particulars
of the property charged |
(A)Hypothecation
of: a) All tangible movable machineries & plant both present and future
situated at Prasad Industrial Estate Sativali Vasai District Thane or
wherever else b)All tangible movable properties and assets and stock of
whatsoever nature(both present and future) at Vasai or elsewhere c)All
present and future book debts, outstanding, money receivables, claims, bills
which are or which may any time
hereafter during the continuance of this security become due and owing to the
Borrower. Details as per copy of supplemental deed of hypothecation attached (B) Equitable
Mortgage by deposit of title deeds of Immovable property of the company
comprising land and buildings and other structures plant, machinery
furnitures, fixtures and fittings thereon and erected & installed thereon and to be erected and installed
thereon and situate at Sativali ,Tal. Vasai, District Thane. Gala Nos. A-5 ,
A-6,A-7,A-8 & A-10 in Prasad Industrial Estate, Sativali S. No.2/66. |
|
Date of latest
modification prior to the present modification |
30.12.2009 |
|
Particulars of
the present modification |
2nd Modification
the principal amount of charge on hypothecated assets and mortgaged property
is enhanced from Rs.44.500 Millions to Rs.64.500 Millions. Revised Facilities
and Limits (Rs. in Millions): FB - 1) (i) CC(Stock) Rs.75, (ii)CC(BD 90 days)
Rs.3.500 Max.(i+ii) Rs.10.000, 2)EPC Rs.20.000, 3)FBP DP/DA 90 days
Rs.20.000, Total FB Rs.50.000, NFB -1 a)L/C DP/DA 12.000 days Rs.12.000, b)
BG(max.3 years) Rs.2.500 - Total NFB Rs.14.500 - Total Limit (FB+NFB)
Rs.64.500. |
CONTINGENT
LIABILITIES NOT PROVIDED FOR:
I ) Custom Duty
liability arising out of non fulfillment of export obligation against Import of
machinery under EPCG Scheme is Rs. 1.831 Millions. (Previous year Rs. 1.831
Millions)
II) Arrears of
proportionate dividend on Convertible Cumulative Redeemable Preference Shares
amounting to Rs.21.273 Millions.
III) Disputed
excise demand of Rs.11.000 Millions relating to lamination, as a process of
manufacture for the year 2006 07 and 2007-08 against which the company has
obtained a stay from Appellate authority on the grounds that the said liability
is extinguished in excess.
FIXED ASSETS:
Ř Factory Galas
Ř Office Premises
Ř Plant and
Machinery
Ř Electrical
Installation
Ř Furniture and
Fixture
Ř Air Conditioner
Ř Computers
Ř Office Equipment
Ř Motor Cars
WEBSITE DETAILS
PROFILE:
Subject are manufacturers and exporters of CPP film and Flexible Laminates and engaged in the business of customised flexible packaging solutions, Anti Fog Lidding film laminates and specialised in the manufacture of various types of CPP film.
From their corporate office and plant in Mumbai, India and their Office in Watford, U.K. they are well placed to serve existing as well as new customers.
They are BRC/IoP and ISO 9001:208 approved and they have a fully equipped Quality Assurance lab in-house to assure that their products meet the most rigorous quality standards.
They, at Vista believe that better packaging helps deliver a better and safe product to the customer They endeavour to develop cost effective total packaging solutions focussed on customer requirements.
Their products are currently exported to U.K. and European Markets, North America, Africa, Australia, Middle East, Indian Sub Continent and Mauritius and Fiji regions.
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. 52.78 |
|
|
1 |
Rs. 85.16 |
|
Euro |
1 |
Rs. 67.79 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
- |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.