MIRA
INFORM REPORT
|
Report Date : |
13.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
SUNFRESH AGRO INDUSTRIES PRIVATE LIMITED |
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Registered
Office : |
Gat No. 121/2A, At Post Ranjankhol, Taluka Rahata, District
Ahmednagar, Shrirampur – 413720, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
22.01.2007 |
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Com. Reg. No.: |
11-129505 |
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Capital
Investment / Paid-up Capital : |
Rs. 300.000 Millions |
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CIN No.: [Company Identification
No.] |
U01122PN2007PTC129505 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNES21356G |
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PAN No.: [Permanent Account No.] |
AAKCS5451Q / ACGPN8857L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Milk Products. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1700000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record.
Financially company has performed well in the year 2010-2011. Trade relation
are reported to be fair. Business is active. Payments are reported to be
usually correct and as per commitment. The company can be considered for business dealing at usual trade
terms and condition. |
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 |
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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
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 |
CARE |
|
Rating |
Long Term (CARE) BBB- |
|
Rating Explanation |
Having moderate degree of safety regarding
timely servicing of financial obligation it carry moderate credit risk. |
|
Date |
October 2011 |
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 : |
Gat No. 121/2A, At Post Ranjankhol, Taluka Rahata, District
Ahmednagar, Shrirampur – 413720, Maharashtra, India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Factory : |
Plot No. 4-4, Prabhat – Food Park Nirmal Nagar – Post – Talak Nagar,
Tal – Rahata, Ahmed Nagar - 413720, Maharashtra, India |
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Tel. No.: |
91-2422-645904/ 05/ 06 |
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Fax No.: |
91-2422-265816 |
DIRECTORS
AS ON 26.09.2011
|
Name : |
Mr. Vivek Sarangdhar Nirmal |
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Designation : |
Director |
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Address : |
At Post Ranjankhol, Tal Rahata, Shrirampur, Ahmednagar - 413720,
Maharashtra, India |
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Date of Birth/Age : |
16.08.1983 |
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Date of Appointment : |
22.01.2007 |
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DIN No.: |
00820923 |
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Other Directorship: |
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Name : |
Arvind R. Nirmal |
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Designation : |
Director |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Vivek Sarangdhar Nirmal |
|
1 |
|
Cheese Land Agro (India) Private Limited, India |
|
37483254 |
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Total |
|
37483255 |
AS ON 02.05.2012
|
Names of Allottees |
|
No. of
Preference Shares |
|
Sarangdhar R. Nirmal |
|
100 |
|
Vivek S. Nirmal |
|
100 |
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Anil T. Kadu |
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40 |
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Kishor R. Nirmal |
|
100 |
|
Arvind J. Nirmal |
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100 |
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Vijaya S. Nirmal |
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30 |
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Vijay S. Harde |
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30 |
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Anil T. Kadu |
|
14085 |
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Rekha A. Kadu |
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14775 |
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Balasaheb |
|
6020 |
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Chandrakant K. Nale |
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18426 |
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Vilas G. Gole |
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250 |
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Ganesh B. Janjire |
|
12115 |
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Prabhakar P. Kasab |
|
8166 |
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Nidhi V. Nirmal |
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23120 |
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Nisha K. Nirmal |
|
44210 |
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Lahu M. Pawar |
|
8833 |
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Sarangdhar R. Nirmal |
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250 |
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Vijaya Nirmal |
|
250 |
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Kishor R. Nirmal |
|
250 |
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Nisha Nirmal |
|
250 |
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Vijay M. Harde |
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50 |
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Shaila Harde |
|
50 |
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Vivek S. Nirmal |
|
50 |
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Kashinath Girhe |
|
50 |
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Total |
|
151700 |
AS ON 26.09.2011
|
Equity Share Breakup |
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Percentage of Holding |
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Category |
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Bodies
corporate |
|
100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Milk Products. |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
·
United Bank of India, Alankar Cinema Building,
16, Connaught Road, Pune – 411001, Maharashtra, India ·
ICICI Bank Limited, 3rd Floor, “A”
Wing, Shangrila Gardens, Bund Garden Road Branch, Pune – 411001, Maharashtra,
India ·
Bank of India, 1162/6, Shivajinagar, University
Road, Pune – 411005, Maharashtra, India ·
Punjab National Bank, 7, Bhikaji Kama Palace, New
Delhi – 110066, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Shashank Suvarnpathaki and Company Chartered Accountants |
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Address : |
3801 Barde Lane, Navi Peth, Ahmednagar – 414001, Maharashtra, India |
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Mobile No.: |
91-9822069404 |
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Income-tax
PAN of auditor or auditor's firm : |
AONPS9755F |
CAPITAL STRUCTURE
AFTER 26.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
56,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 565.000 Millions |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
37,634,955 |
Equity Share |
Rs.10/- each |
Rs. 376.350
Millions |
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|
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AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 300.000 Millions |
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|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30,000,000 |
Equity Share |
Rs.10/- each |
Rs. 300.000 Millions |
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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 |
300.000 |
40.705 |
7.973 |
|
|
2] Share Application Money |
53.331 |
161.115 |
2.159 |
|
|
3] Reserves & Surplus |
80.012 |
11.767 |
3.733 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
433.343 |
213.587 |
13.865 |
|
|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
693.615 |
319.013 |
84.964 |
|
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2] Unsecured Loans |
0.000 |
0.000 |
18.584 |
|
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TOTAL BORROWING |
693.615 |
319.013 |
103.548 |
|
|
DEFERRED TAX LIABILITIES |
40.600 |
11.618 |
3.859 |
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|
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|
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TOTAL |
1167.558 |
544.218 |
121.272 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
701.020 |
187.212 |
47.130 |
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Capital work-in-progress |
21.312 |
218.578 |
0.000 |
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INVESTMENT |
0.054 |
0.156 |
0.624 |
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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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|
|
Inventories |
120.729
|
13.582 |
48.228 |
|
|
Sundry Debtors |
280.489
|
117.556 |
20.084 |
|
|
Cash & Bank Balances |
3.961
|
3.703 |
3.511 |
|
|
Other Current Assets |
0.000
|
0.000 |
9.199 |
|
|
Loans & Advances |
101.936
|
13.325 |
0.000 |
|
Total
Current Assets |
507.115
|
148.166 |
81.022 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
41.339
|
16.803 |
9.398 |
|
|
Other Current Liabilities |
12.258
|
0.822 |
0.000 |
|
|
Provisions |
19.772
|
3.234 |
0.617 |
|
Total
Current Liabilities |
73.369
|
20.859 |
10.015 |
|
|
Net Current Assets |
433.746
|
127.307 |
71.007 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
11.426 |
10.965 |
2.511 |
|
|
|
|
|
|
|
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TOTAL |
1167.558 |
544.218 |
121.272 |
|
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 |
|
|
|
|
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|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
302.302 |
363.722 |
245.151 |
|
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
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|
|
Administrative Expenses |
|
|
|
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|
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Advertising Expenses |
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|
|
|
|
|
TOTAL (B) |
290.024 |
326.857 |
226.002 |
|
|
|
|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
12.278 |
36.865 |
19.149 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
14.843 |
10.719 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
12.278 |
22.022 |
8.430 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.920 |
2.994 |
2.420 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
11.358 |
19.028 |
6.010 |
|
|
|
|
|
|
|
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|
Less |
TAX (H) |
1.200 |
10.994 |
1.409 |
|
|
|
|
|
|
|
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|
PROFIT AFTER TAX
(G-H) (I) |
10.158 |
8.034 |
4.601 |
|
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|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
0.34 |
1.97 |
5.77 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.36 |
2.21 |
1.88 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.94 |
5.67 |
4.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.09 |
0.43 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.77 |
1.59 |
8.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.91 |
7.10 |
8.09 |
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 |
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 |
OPERATIONS AND
PROJECT IMPLEMENTATION
The Company is mainly
engaged in the business of milk processing and milk products. During the
financial year under review, the performance of the company is very good.
COMPANY OVERVIEW:
Prabhat Nutritious
and Frozen Food Industries Private Limited is a private limited company engaged
in the business of retail sale milk and milk products like SMP, WMP SCM etc of
various food products especially milk and milk products catering to the needs
of retail trade sector.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity
number of the company |
U01122PN2007PTC129505 |
|
Name of the
company |
SUNFRESH AGRO
INDUSTRIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Gat No 121/2A, At
Post Ranjankhol Taluka Rahata, Shrirampur - 413720, Ahmednagar, Maharashtra,
India Email ID: ajay.topale@prabhatfresh.co.in
|
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
10317930 |
|
Type of charge |
Any interest in immovable property Movable Property Floating Charge |
|
Particular of
charge holder |
Vijaya Bank,
Vinayak Niwas, 1206/A-32, Shirole Road, Opposite Sambhaji Park, Pune –
411004, Maharashtra, India Email ID: pune.corpbanking5104@vijayabank.co.in
|
|
Nature of
description of the instrument creating or modifying the charge |
1. Memorandum of Entry
for creation of first charge by way of Equitable Mortgage in favour of Vijaya
Bank for the Term Loan facilities of Vijaya Bank ranking pari passu with the
first charge of Bank of India. 2. Deed of
Confirmation |
|
Date of
instrument Creating the charge |
14.08.2012 |
|
Amount secured by
the charge |
Rs. 441.700
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Base rate + 3.60%
+ 0.25% (floating) i.e. presently at 14.50% p.a. Terms of Repayment 1. Term Loan I of
Rs. 100.000 Millions: repayable in 66 EMI of Rs. 1.515 Millions each
commencing from 20.05.2012. 2. Term Loan II
of Rs. 341.700 Millions: principal repayable in 60 equal monthly instalments
commencing after 18 months, repayment of holiday period from date of first
disbursement. Door to door tenor being 6 and 1/2 year. Interest to be
serviced as and when debited. Margin 25% Extent and Operation of the charge The charge shall
continue to remain in force until the repayment of the full loan alongwith
interest and costs. |
|
Short particulars
of the property charged |
Equitable
mortgage by deposit of title deeds relating to Leasehold land of the Company
at Plot no. E-4 admeasuring 92000 sq. m. in MIDC Zone VIII, Khandala,
Shrirampur Industrial Area, Shrirampur, Ahmednagar created on 08.06.2012. By this
modification, first charge is created in favour of Vijaya Bank ranking pari
passu along with the first charge created in favour of Bank of India on
following properties: Non agricultural
land at Gat no. 121/7 (Part) (formerly Gat no. 121/1/4) admeasuring 0H20R at
Vill. Ranjankhol, Tilaknagar, Rahata, Ahmendnagar owned by Vivek S. Nirmal
& leased to company, Non agricultural
land at Gat no. 121/5 (formerly Gat no. 121/1/2) admeasuring 0H50R at
Ranjankhol, Tilaknagar, Rahata, Ahmednagar owned by Arvind Nirmal and leased
to company, Non-agricultural
land at Gat no. 121/6 (formerly Gat no. 121/1/3) admeasuring 0H21R at
Ranjankhol, Tilaknagar, Rahata, Ahmednagar owned by Vivek Nirmal and leased
to company, Non agricultural
land at Gat no. 121/9 admeasuring 0H30R at Ranjankohl, Tilaknagar, Rahata,
Ahmednagar owned by Arvind Nirmal and leased to company and Non agricultural
land at gat no. 121/10 admeasuring 0H56R at Ranjankhol, Tilaknagar, Rahata,
Ahmednagar owned by Vivek Nirmal and leased to company, together with all
rights and easements appurtenant thereto and together with all the buildings and structures constructed
thereon or to be constructed thereon and along with all the furniture,
fixtures, fittings and electrical installations installed thereon or to be installed thereon. |
|
Date of latest
modification prior to the present modification |
08.06.2012 |
|
Particulars of
the present modification |
By way of present
mod., additional security has been created in favour of Vijaya Bank for
securing its Term Loans of Rs. 441.700
Millions by way of creation of first charge ranking pari passu along with 1st
charge created in favour of Bank of India on properties at Gat nos. 121/7
(20R), 121/6, 121/10 of Vivek Nirmal and at gat nos. 121/5 and 121/9 of
Arvind Nirmal and all properties being
leased to company and situated at Ranjankhol, Tilaknagar, Rahata, Ahmednagar
alongwith all properties thereon. |
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. 55.26 |
|
|
1 |
Rs. 88.85 |
|
Euro |
1 |
Rs. 71.13 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
6 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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.