|
Report Date : |
07.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
SONI RUBBER PRODUCTS LIMITED (w.e.f. 03.08.1983) |
|
|
|
|
Formerly Known
As : |
SONI RUBBER PRODUCTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
4, Princep Street, Kolkata – 700072, West Bengal |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
02.06.1981 |
|
|
|
|
Com. Reg. No.: |
21-33731 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
L19202WB1981PTC033731 |
|
|
|
|
CIN No.: [Company Identification
No.] |
Rs.8.059 millions
|
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALS01702B |
|
|
|
|
PAN No.: [Permanent Account No.] |
ACHPR4828A |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchange. |
|
|
|
|
Line of Business
: |
Manufacturer of
Hoses and Hose Assemblies. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 110000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. There
appears some dip in the les turnover and profits during 2011. However, trade relations are reported as fair. Business is active.
Payments are reported to be usually correct. 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
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 |
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/ Head Office : |
4, |
|
Tel. No.: |
91-33-22377672/ 22372691/ 32930780/ 22434805/ 22481139/ 22379208 |
|
Fax No.: |
91-33-22152925/ 22215365 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2500 sq.fts |
|
Location : |
Rented
(Commercial Area) |
|
|
|
|
Factory : |
Village Banagram,
Post Rashpunja, Police Station, Bishnupur, 24 Parganas (South), Kolkata, West
Bengal, India |
|
Area : |
1720000 sq.fts |
|
Location : |
Owned (Industrial
Area) |
DIRECTORS
(AS ON 29.09.2011)
|
Name : |
Mr. Tajinder
Singh |
|
Designation : |
Whole-time Director |
|
Address : |
61, Block D, New Alipore, Kolkata – 700 053, |
|
Date of Birth/Age : |
01.07.1947 |
|
Date of Appointment : |
02.06.1981 |
|
PAN No.: |
AJWPS1798L |
|
DIN No.: |
00404274 |
|
|
|
|
Name : |
Mr. Pawandeep Singh
Soni |
|
Designation : |
Director |
|
Address : |
61, Block D, New Alipore, Kolkata – 700 053, |
|
Date of Birth/Age : |
08.09.1973 |
|
Date of Appointment : |
16.11.1993 |
|
PAN No.: |
AKLPS3233J |
|
DIN No.: |
00450408 |
|
|
|
|
Name : |
Mrs. Jasmine Kaur
Soni |
|
Designation : |
Director |
|
Address : |
61, Block D, New Alipore, Kolkata – 700 053, |
|
Date of Birth/Age : |
28.10.1976 |
|
Date of Appointment : |
03.10.1997 |
|
PAN No.: |
AJMPS2280H |
|
DIN No.: |
00451352 |
|
|
|
|
Name : |
Mr. Damneet Singh
Soni |
|
Designation : |
Director |
|
Address : |
61, Block D, New Alipore, Kolkata – 700 053, |
|
Date of Birth/Age : |
17.01.1979 |
|
Date of Appointment : |
02.06.2003 |
|
PAN No.: |
AKLPS7076D |
|
DIN No.: |
00527152 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
LATEST SHAREHOLDING DETAILS FILE ATTACHED (AS ON 29.09.2011)
(AS ON 31.03.2006)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Tajinder Singh |
|
222630 |
|
Jaspal Singh Soni |
|
220740 |
|
Vijay N. Gandhi |
|
4235 |
|
Pawandeep Singh
Soni |
|
120450 |
|
Sukh Dev Kaur |
|
5400 |
|
Jasmine Kaur Soni |
|
148370 |
|
Tirath Singh Soni
and Others [HUF] |
|
100 |
|
Satwant Singh |
|
100 |
|
Damneet Singh
Soni |
|
100 |
|
Jaspal Singh Soni
- HUF |
|
100 |
|
Tajinder Singh –
HUF |
|
100 |
|
Sundeep Singh
Soni |
|
100 |
|
Mandeep Singh
Soni |
|
10400 |
|
Amarjit Singh
Soni |
|
100 |
|
Harchara Kaur
Soni |
|
100 |
|
Harpal Kaur |
|
100 |
|
Simran Soni |
|
100 |
|
Kulmeet Kaur Soni
|
|
100 |
|
Tavneet Kaur Soni
|
|
100 |
|
Sukhhar
Enterprises Private Limited |
|
72475 |
|
|
|
|
|
Total |
|
805900 |
(AS ON 30.09.2011)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of
Hoses and Hose Assemblies. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
“SONI” |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· Oriental Bank of Commerce Princep Street Branch,
2-B, Ganesh Chandra Avenue, Kolkata – 700013, West Bengal, India |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B N Ray and
Company Chartered
Accountants |
|
Address : |
10, |
|
Tel. No.: |
91-33-22489789 |
|
E-Mail: |
|
|
PAN No.: |
APGPB2473R |
CAPITAL STRUCTURE
(AS ON 29.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity shares |
Rs. 10/- each |
Rs.20.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
805900 |
Equity shares |
Rs. 10/- each |
Rs.8.059 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 |
8.059 |
8.059 |
8.059 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
18.467 |
16.655 |
13.067 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
26.526 |
24.714 |
21.126 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
29.298 |
42.336 |
37.048 |
|
|
2] Unsecured Loans |
72.505 |
61.811 |
81.178 |
|
|
TOTAL BORROWING |
101.803 |
104.147 |
118.226 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
1.175 |
|
|
|
|
|
|
|
|
TOTAL |
128.329 |
128.861 |
140.527 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
40.341 |
41.491 |
39.549 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
48.078
|
33.551 |
43.291 |
|
|
Sundry Debtors |
37.588
|
58.085 |
57.827 |
|
|
Cash & Bank Balances |
1.857
|
1.461 |
1.604 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
8.424
|
5.920 |
9.170 |
|
Total
Current Assets |
95.947
|
99.017 |
111.892 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
3.715
|
7.710 |
4.636 |
|
|
Other Current Liabilities |
2.208
|
2.753 |
2.428 |
|
|
Provisions |
2.036
|
1.184 |
3.850 |
|
Total
Current Liabilities |
7.959
|
11.647 |
10.914 |
|
|
Net Current Assets |
87.988
|
87.370 |
100.978 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
128.329 |
128.861 |
140.527 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
165.732 |
176.244 |
172.484 |
|
|
|
Other Income |
0.394 |
0.610 |
0.853 |
|
|
|
TOTAL (A) |
166.126 |
176.854 |
173.337 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption Materials Changes Inventories |
74.655 |
90.144 |
88.736 |
|
|
|
Manufacturing Service Costs |
47.100 |
41.163 |
45.788 |
|
|
|
Employee Related Expenses |
5.330 |
5.357 |
4.813 |
|
|
|
Administrative, Selling and Other Expenses |
21.011 |
22.030 |
16.462 |
|
|
|
TOTAL (B) |
148.096 |
158.694 |
155.799 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
18.030 |
18.160 |
17.538 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8.646 |
8.277 |
8.481 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
9.384 |
9.883 |
9.057 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.601 |
6.285 |
6.215 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2.783 |
3.598 |
2.847 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.971 |
1.184 |
1.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1.812 |
2.414 |
1.847 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
15.003 |
12.589 |
10.742 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
16.815 |
15.003 |
12.589 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.25 |
2.99 |
2.29 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.09
|
1.36 |
1.07 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.68
|
2.04 |
1.65 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.04
|
2.56 |
1.88 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.15 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.14
|
4.69 |
6.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
12.06
|
8.50 |
10.25 |
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 |
Yes |
|
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 |
Yes |
|
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 |
FORM 8:
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
80036688 |
|
Corporate
identity number of the company |
L19202WB1981PLC033731 |
|
Name of the
company |
SONI RUBBER
PRODUCTS LTD |
|
Address of the registered
office or of the principal place of
business in |
4 Princep Street, Kolkata – 700072, West
Bengal, India |
|
Type of charge |
Immovable
Property Book Debts Movable Property |
|
Particular of
charge holder |
Oriental Bank of
Commerce Princep Street
Branch, 2-B, Ganesh Chandra Avenue, Kolkata – 700013, West Bengal, India |
|
Nature of description
of the instrument creating or modifying the charge |
Supplemental
Agreement Dated - 27/06/2012 Title Deed
Deposit Doc Dated - 27/06/2012 |
|
Date of
instrument Creating the charge |
27/06/2012 |
|
Amount secured by
the charge |
Rs.47.000 Millions
|
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest C.C - 3.50%
(BANK'S Spread) over base rate (Present BR of the Bank is 10.75%) which works
out to 14.25% at present with monthly rests Terms of
Repayment One Year Margin Cash Credit - 25% Bank Guarantee -
25% on financial and performance Extent and
Operation of the charge By way of first
charge on all hypothecated assets and Eqm |
|
Short particulars
of the property charged |
Hypothecation of
stocks of raw materials, stock in process, finished goods, stores and spares
and receivables. Extansion Eqm of
Factory Land and Building (Shed) at vill: Banogram, Bibirhat Road, PO:
Raspunja, P.S. Bishnupur, Kolkata - 700104 in the name of M/s. Soni Rubber
Products Limited Title Deed No – i) 5542 of year
1981, ii) 8501 of year
1981, iii) 860 of year
1982, iv) 12512 of year
1982, v) 14381 of year
1983, vi) 14382 of year
1983, vii) 1231 of year
1984, ivii) 1232 of
year 1984 ix) 1233 of year
1984 |
|
Particulars of
the present modification |
By this
modification the overall limit has been enhanced to Rs.47.000 Millions as
under CASH CREDIT - 40.000 Millions BANK
GUARANTEE - 7.000 Millions _____________ TOTAL - 47.000 Millions
______________ |
FIXED ASSETS:
· Land
· Building
· Factory
· Office Equipment
· Plant and Machinery
· Computer
· Furniture and Fixture
· 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 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.55.97 |
|
|
1 |
Rs.89.02 |
|
Euro |
1 |
Rs.70.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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.