MIRA
INFORM REPORT
Business
information report
1. Summary Information
|
|
|
Country |
|
|
Company Name |
VERSATILE CARD TECHNOLOGY PRIVATE LIMITED |
Principal Name 1 |
Mr. Pethinaidu Thathinaidu Sarguru |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Pushparaj
Venkitasamy |
|
|
|
Registration # |
18-039730 |
|
Street Address |
AC 21, 4th Main Road, SIDCO Industrial Estate,
Thirumudivalkam, Chennai-600004, Tamilnadu. |
||
|
Established Date |
05.01.1998 |
SIC Code |
-- |
|
Telephone# |
91-44-24781551 |
Business Style 1 |
Manufacturers |
|
Fax # |
91-44-24781571 |
Business Style 2 |
Exporters |
|
Homepage |
Product Name 1 |
PVC Sheets |
|
|
# of employees |
Not Available |
Product Name 2 |
Overlay |
|
Paid up capital |
Rs. 157,342,000/- |
Product Name 3 |
Paper Board |
|
Shareholders |
Directors or
relatives of Directors – 100% |
Banking |
Axis Bank
Limited |
|
Public Limited Corp. |
No |
Business Period |
14 Years |
|
IPO |
No |
International Ins. |
- |
|
Public Enterprise |
No |
Rating |
Ba (42) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Related
Parties |
USA
|
Versatile Card Technologies Inc |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
127,992,000 |
Current Liabilities |
74,287,000 |
|
Inventories |
106,608,000 |
Long-term Liabilities |
144,128,000 |
|
Fixed Assets |
279,399,000 |
Other Liabilities |
85,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
218,500,000 |
|
Invest& other Assets |
12,500,000 |
Retained Earnings |
150,657,000 |
|
|
|
Net Worth |
307,999,000 |
|
Total Assets |
526,499,000 |
Total Liab. & Equity |
526,499,000 |
|
Total Assets (Previous Year) |
529,340,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
NA |
Net Profit / (Loss) |
(16,200,000) |
|
Sales(Previous yr) |
449,874,000 |
Net Profit(Prev.yr) |
17,152,000 |
|
Report Date : |
29.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
VERSATILE CARD TECHNOLOGY PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
CREATIVE AUTOMATION PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
AC 21, 4th |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
05.01.1998 |
|
|
|
|
Com. Reg. No.: |
18-039730 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 157.342 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U30006TN1998PTC039730 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEV2414G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCV0567B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers and Exporters of PVC Sheets, Overlay, paper
Board and Plastic Cards. |
|
|
|
|
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 1200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. There
appears loss in the year 2010-2011. However, trade relations are reported to be
fair. Business is active. Payments are reported to be usually correct and as
per commitments. The company can be considered 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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
|
Registered Office/ Factory : |
AC 21, 4th |
|
Tel. No.: |
91-44-24781551 |
|
Fax No.: |
91-44-24781571 |
|
E-Mail : |
DIRECTORS
AS ON 10.06.2011
|
Name : |
Mr. Pethinaidu Thathinaidu Veluchamy |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
30.12.1945 |
|
Qualification : |
M.S. |
|
Date of Appointment : |
06.01.1998 |
|
Date of Cessation : |
01.04.2012 |
|
DIN No.: |
01239944 |
|
|
|
|
Name : |
Mrs. Parmeswari Veluchamy |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
12.03.1948 |
|
Qualification : |
B. Sc |
|
Date of Appointment : |
06.01.1998 |
|
Date of Cessation : |
01.04.2012 |
|
DIN No.: |
01239963 |
|
|
|
|
Name : |
Mr. Pushparaj
Venkitasamy |
|
Designation : |
Director |
|
Address : |
10, South 280, |
|
Qualification : |
B.E. |
|
Date of Appointment : |
27.05.2000 |
|
DIN No.: |
01829322 |
|
|
|
|
Name : |
Mr. Arjun Parthasarathy |
|
Designation : |
Director |
|
Address : |
24, Karpagambal Nagar, Mylapore, Chennai-600004, Tamilnadu, India |
|
Date of Birth/Age : |
01.05.2009 |
|
Date of Appointment : |
24.08.2009 |
|
Date of Cessation : |
01.07.2011 |
|
DIN No.: |
01892022 |
|
|
|
|
Name : |
Mr. Pethinaidu Thathinaidu Sarguru |
|
Designation : |
Director |
|
Address : |
2700, Oak brook Road, Oak Brook, IIIinois-60523, USA |
|
Date of Appointment : |
12.11.2009 |
|
DIN No.: |
02822611 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U30006TN1998PTC039730 |
VERSATILE
CARD TECHNOLOGY PRIVATE LIMITED |
Director |
12/11/2009 |
12/11/2009 |
Active |
NO |
|
2 |
U72200TN2003PTC050662 |
CAC
SOFTWARE CONSULTANCY PRIVATE LIMITED |
Additional
director |
01/10/2010 |
01/10/2010 |
Active |
NO |
|
3 |
U65999TN2002PTC048553 |
GLOBAL
CARD SYSTEMS PRIVATE LIMITED |
Additional
director |
01/10/2010 |
01/10/2010 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 10.06.2011
|
Names of Shareholders |
No. of Shares |
|
Mahalakshmi Parthasarthy |
1 |
|
K.G. Parthasarathy |
1 |
|
Pethinaidu Veluchamy and Parameshwari Veluchamy |
944118 |
|
G Rajaram |
5506663 |
|
Renuga Devi |
5506663 |
|
Arunkumar Veluchamy |
1888400 |
|
Anuradha Veluchamy |
1888400 |
|
TOTAL
|
15734246 |
AS ON 10.06.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporters of PVC Sheets, Overlay, paper
Board and Plastic Cards. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (AS ON : 31.03.2011)
|
Particulars |
Unit |
Actual
Production |
|
|
|
|
|
Card |
No. of Cards |
890.06 Lacs |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Axis Bank Limited, Corporate Banking Branch, Ground
Floor, Karumuthu Nilayam No.192, Anna Salai, Chennai-600002, Tamilnadu, India
|
||||||||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kennedy and Company Chartered Accountant |
|
Address : |
Plot No.1703, I Block, 35th Street, Annanagar West,
Chennai-600040, Tamilnadu, India |
|
PAN No.: |
AARPJ3536D |
|
|
|
|
Related Parties : |
Versatile Card Technologies Inc., USA |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs. 200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15734246 |
Equity Shares |
Rs.10/- each |
Rs. 157.342
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 |
157.342 |
157.342 |
197.342 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
150.657 |
167.937 |
151.772 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
307.999 |
325.279 |
349.114 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
144.128 |
137.123 |
175.521 |
|
|
2] Unsecured Loans |
0.000 |
10.000 |
0.000 |
|
|
TOTAL BORROWING |
144.128 |
147.123 |
175.521 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
452.127 |
472.402 |
524.635 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
279.399 |
322.287 |
312.968 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
12.500 |
12.500 |
12.500 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
106.608
|
103.553 |
85.936
|
|
|
Sundry Debtors |
75.824
|
63.145 |
179.120
|
|
|
Cash & Bank Balances |
1.572
|
1.281 |
1.547
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
50.596
|
26.574 |
32.700
|
|
Total
Current Assets |
234.600
|
194.553 |
299.303 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
55.502
|
31.103 |
71.285 |
|
|
Other Current Liabilities |
18.785
|
16.193 |
16.586
|
|
|
Provisions |
0.085
|
9.642 |
12.307
|
|
Total
Current Liabilities |
74.372
|
56.938 |
100.178 |
|
|
Net Current Assets |
160.228
|
137.615 |
199.125
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.042 |
|
|
|
|
|
|
|
|
TOTAL |
452.127 |
472.402 |
524.635 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
449.874 |
569.659 |
|
|
|
Other Income |
|
18.013 |
7.427 |
|
|
|
TOTAL |
NA |
467.887 |
577.086 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
441.935 |
551.061 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(16.200) |
25.952 |
26.025 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
8.800 |
11.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(16.200) |
17.152 |
14.525 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
132.089 |
278.198 |
202.735 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(1.03) |
1.09 |
0.74 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
3.67 |
2.52 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
5.77 |
4.57 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.15)
|
5.02 |
4.25 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.05)
|
0.08 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.23
|
0.63 |
0.79 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.15
|
3.42 |
2.99 |
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
two 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 |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
FORM 8
|
Corporate
identity number of the company |
U30006TN1998PTC039730 |
|
Name of the
company |
VERSATILE CARD
TECHNOLOGY PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
AC 21, 4th Main Road, SIDCO Industrial Estate, Thirumudivalkam, Chennai-600004, Tamilnadu, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10126149 |
|
Type of charge |
·
Immovable
property |
|
Particular of
charge holder |
Axis Bank Limited, Corporate Banking Branch, Ground Floor, Karumuthu Nilayam No.192, Anna Salai, Chennai-600002, Tamilnadu, India |
|
Nature of
instrument creating charge |
Declaration Cum
Deed of Confirmation for the extension of mortgage |
|
Date of
instrument Creating the charge |
26.09.2012 |
|
Amount secured by
the charge |
Rs. 63.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest TL of Rs.35.000
Millions under Business M Power Scheme-Base rate +4.25%, presently 14.25%
p.a. Existing rate of interest for the existing TL to continue. Terms of repayment TL of Rs. 35.000
Millions under Business M Power Scheme is repayable in 84 monthly
installments of Rs.0.661 Million each commencing from 20.10.2012. Existing TL
to be repaid as per the existing repayment terms. Margin Nil Extent and operation of the charge First and
exclusive charge by way of extension of Equitable mortgage by constructive
delivery of documents of immovable properties of the company more fully
described in the annexure to this form 8. The charge operates as security for
the repayment of the dues by the company to the bank along with interest,
charges etc. Other All other terms
and conditions are as per sanction letter dt. 17.09.2012 and documents
obtained by the bank. |
|
Short particulars
of the property charged (Including location of the property) |
First and
exclusive charge by way of Extension of Equitable Mortgage by constructive
delivery of documents of immovable properties more fully described in the
annexure to this form 8. |
|
Particulars of
the present modification |
The company has
been sanctioned with fresh TL of Rs.35.000 Millions under Business M Power
Scheme and the total limits sanctioned to the company has been enhanced from
the existing Rs.28.000 Millions to Rs.63.000 Millions and hence this
modification. Securities as mentioned in the annexure to form 8. Break up of
limits. TL Existing Rs.28.000 Millions, TL Fresh Rs.35.000 Millions =Total
limits Rs.63.000 Millions. |
FIXED ASSETS
·
Land
·
Building
·
Machinery
·
Electrical Equipments
·
Air Condition Unit
·
Computer and Accessories
·
Furniture & Fittings
·
Office Equipments
·
Safety Equipments
·
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 53.63 |
|
|
1 |
Rs. 86.17 |
|
Euro |
1 |
Rs. 69.74 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--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.