|
Report Date : |
24.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
SMCC CONSTRUCTION INDIA LIMITED |
|
|
|
|
Formerly Known
As : |
MITSUI KENSETSU INDIA LIMITED |
|
|
|
|
Registered
Office : |
23, Local Shopping Centre, Madangir, Near Pushp Bhawan, New Delhi-110
062 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2011 |
|
|
|
|
Date of
Incorporation : |
12.12.1996 |
|
|
|
|
Com. Reg. No.: |
55-083806 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 2.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65991DL1996PLC083806 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELM04771E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACM7822P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The subject is engaged in the construction business wherein it carries
out turnkey construction projects for its customers. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2500000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having good track. Financially company
performance seems good. Trade relations are reported to be fair. Business is
active. Payments are reported to be regular 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) |
|
India |
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 Office / Corporate Office : |
23, Local Shopping Centre, Madangir, Near Pushp Bhawan, New
Delhi-110062, India |
|
Tel. No.: |
91-11-41392800 |
|
Fax No.: |
91-11-41652592 /93 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 28.06.2012
|
Name : |
Mr. Shgeki Ikejiri |
|
Designation : |
Managing Director |
|
Address : |
B-414, 3rd Floor, New Friends Colony, New Delhi-110065,
India |
|
Date of Birth/Age : |
24.11.1952 |
|
Date of Appointment : |
10.04.2010 |
|
DIN No.: |
02989557 |
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 |
U65991DL1996PLC083806 |
SMCC
CONSTRUCTION INDIA LIMITED |
Managing
director |
28/06/2010 |
10/04/2010 |
Active |
NO |
|
Name : |
Mr. Kenichi Muraoka |
|
Designation : |
Director |
|
Address : |
Kami-Hiroya 792-1-1201, Oaza, Turugasima-Shi, Saitama, Japan-3502203 |
|
Date of Birth/Age : |
08.09.1957 |
|
Date of Appointment : |
29.06.2006 |
|
DIN No.: |
00366899 |
|
|
|
|
Name : |
Mr. Kalathil Vasudevan Ramesh |
|
Designation : |
Whole Time Director |
|
Address : |
137-A, Shivalik Malviya Nagar, New Delhi-110017, India |
|
Date of Birth/Age : |
27.12.1949 |
|
Date of Appointment : |
12.12.1997 |
|
DIN No.: |
00050946 |
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 |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U55103DL1996PTC078294 |
KAIRALI
AYURVEDIC HEALTH RESORTS PRIVATE LIMITED |
Director |
18/04/1996 |
18/04/1996 |
- |
Active |
NO |
|
2 |
U65991DL1996PLC083806 |
SMCC
CONSTRUCTION INDIA LIMITED |
Whole-time
director |
12/12/1997 |
12/12/1997 |
- |
Active |
NO |
|
3 |
U33125KA1985PTC006874 |
SPA
LABS PRIVATE LIMITED |
Director |
05/02/2003 |
05/02/2003 |
- |
Active |
NO |
|
4 |
U74210DL1981PLC234183 |
TECPRO
INFRA-PROJECTS LIMITED |
Director |
31/03/2005 |
31/03/2005 |
30/09/2010 |
Active |
NO |
|
5 |
U85191DL2007PTC167500 |
KAIRALI
AYURVEDIC PRODUCTS PRIVATE LIMITED |
Director |
30/08/2007 |
30/08/2007 |
- |
Active |
NO |
|
6 |
U74140DL2008PTC176256 |
ARC SPORTS
MANAGEMENT PRIVATE LIMITED |
Director |
02/04/2008 |
02/04/2008 |
01/02/2009 |
Active |
NO |
|
Name : |
Mr. Takaaki Hirano |
|
Designation : |
Director |
|
Address : |
101, 3-18-12, Hirata Ichikawa, Chiba Pref., Japan |
|
Date of Birth/Age : |
28.11.1956 |
|
Date of Appointment : |
27.06.2008 |
|
DIN No.: |
02209025 |
|
|
|
|
Name : |
Mr. Hisashi Matsumoto |
|
Designation : |
Director |
|
Address : |
1-1226-65 KA, Nagareyama City, Chiba Prefecture, Japan |
|
Date of Birth/Age : |
02.10.1958 |
|
Date of Appointment : |
19.06.2009 |
|
DIN No.: |
02664377 |
|
|
|
|
Name : |
Mr. Izumi Kanno |
|
Designation : |
Director |
|
Address : |
2-10-5, Mihara, Asaka City, Saitama Pref, Japan-3510025 |
|
Date of Birth/Age : |
13.07.1958 |
|
Date of Appointment : |
28.06.2010 |
|
DIN No.: |
03076063 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.06.2012
|
Names of Shareholders |
No. of Shares |
|
Sumitomo Mitsui Construction Company Limited, Japan |
159995 |
|
Kairali Construction N.A., India
|
39997 |
|
Ota Shunichi, (Nominee of Sumitomo Mitsui Construction Company
Limited, Japan) |
01 |
|
Ishida Ryuichi (Nominee of Sumitomo Mitsui Construction Company
Limited, Japan) |
01 |
|
Aoki Ichiro (Nominee of Sumitomo Mitsui Construction Company Limited,
Japan) |
01 |
|
Tsuji Yoshiki (Nominee of Sumitomo Mitsui Construction Company
Limited, Japan) |
01 |
|
Tanaka Chiaki (Nominee of Sumitomo Mitsui Construction Company
Limited, Japan) |
01 |
|
Ramesh Geeta (Nominee of Kairali Construction) |
01 |
|
Ramesh K Abhilash (Nominee of Kairali Construction) |
01 |
|
Ramadasan V M (Nominee of Kairali Construction) |
01 |
|
TOTAL
|
200000 |
AS ON 28.06.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
80.00 |
|
Directors or relatives of Directors |
20.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The subject is
engaged in the construction business wherein it carries out turnkey
construction projects for its customers. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountant |
|
Address : |
7th Floor, Building 10, Tower B, DLF Cyber City Complex, DLF
City Phase II, Gurgaon-122002, Haryana, India |
|
PAN No.: |
AABFD2095B |
|
|
|
|
Holding Company : |
|
|
|
|
|
Enterprise
holding substantial interest in voting power of the Company : |
|
CAPITAL STRUCTURE
AS ON 31.12.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.10/- each |
Rs. 2.000
Millions |
|
|
|
|
|
NOTE
i)
159995 equity shares of INR 10 each are held by
Sumitomo Mitsui Corporation Company Limited, Japan, the holding company (formerly
Mitsui Construction Company Limited)
ii)
5 Equity shares of INR 10 each are held by the
nominees of Sumitomo Mitsui Construction Company Limited, Japan, the holding
Company (formerly Mitsui Construction Company Limited)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.000 |
2.000 |
2.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
637.851 |
458.077 |
417.644 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
639.851 |
460.077 |
419.644 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
639.851 |
460.077 |
419.644 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
31.685 |
25.395 |
23.102 |
|
|
Capital work-in-progress |
0.787 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
36.923 |
11.468 |
9.142 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
51.796
|
18.902 |
12.969 |
|
|
Sundry Debtors |
215.993
|
60.237 |
58.856 |
|
|
Cash & Bank Balances |
1729.953
|
1068.499 |
521.934 |
|
|
Other Current Assets |
410.326
|
22.250 |
65.191 |
|
|
Loans & Advances |
280.394
|
281.835 |
180.560 |
|
Total
Current Assets |
2688.462
|
1451.723 |
839.510 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
859.658
|
404.337 |
231.112 |
|
|
Other Current Liabilities |
1233.917
|
606.831 |
204.962 |
|
|
Provisions |
24.431
|
17.341 |
16.036 |
|
Total
Current Liabilities |
2118.006
|
1028.509 |
452.110 |
|
|
Net Current Assets |
570.456
|
423.214 |
387.400 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
639.851 |
460.077 |
419.644 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5391.815 |
2234.236 |
2128.479 |
|
|
|
Other Income |
120.878 |
53.701 |
67.094 |
|
|
|
TOTAL |
5512.693 |
2287.937 |
2195.573 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Service Costs |
185.200 |
73.929 |
0.000 |
|
|
|
Employee Related Expenses |
318.593 |
192.376 |
0.000 |
|
|
|
Administrative, Selling and Other Expenses |
4612.584 |
1869.761 |
1580.332 |
|
|
|
Operating and Other Expenses |
0.000 |
0.000 |
381.544 |
|
|
|
Consumption Materials Changes Inventories |
(17.806) |
(1.098) |
(5.644) |
|
|
|
TOTAL |
5098.571 |
2134.968 |
1956.232 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
414.122 |
152.969 |
239.341 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
9.406 |
5.793 |
9.609 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
404.716 |
147.176 |
229.732 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
131.964 |
48.438 |
72.158 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
272.752 |
98.738 |
157.574 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
380.719 |
355.285 |
241.110 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
40.000 |
15.000 |
20.000 |
|
|
|
Interim Dividend |
80.000 |
50.000 |
20.000 |
|
|
|
Corporate Dividend Tax |
12.979 |
8.304 |
3.399 |
|
|
BALANCE CARRIED
TO THE B/S |
520.492 |
380.719 |
355.285 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Items Procured for Executing Construction Activities |
2.612 |
0.549 |
9.501 |
|
|
TOTAL IMPORTS |
2.612 |
0.549 |
9.501 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1363.76 |
493.69 |
787.87 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
PAT / Total Income |
(%) |
4.95
|
4.32 |
7.18 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.34
|
6.59 |
10.79 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.68
|
9.89 |
26.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.63
|
0.32 |
0.55 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.31
|
2.24 |
1.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27
|
1.41 |
1.86 |
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 |
No |
|
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 |
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 |
No |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
No |
|
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 |
No |
NOTE
Registered office has been shifted from A-1/20, Safdarjung Enclave, New
Delhi-110029, India to the present address w.e.f. 26.06.2006
BACKGROUND
Subject was
incorporated in India on 12 December, 1996 as Mitsui Kensetsu India Limited. A
fresh certificate of incorporation consequent to the change in name to SMCC
Construction India Limited was issued by the Registrar of Companies, N.C.T of
Delhi and Haryana on 11 May, 2005 under section 23(1) of the Companies Act,
1956.
The Company was
promoted by Sumitomo Mitsui Construction Company Limited, Japan and Kairali
Construction, having equity participation of 80% and 20% respectively, with an
objective to primarily undertake industrial construction and provide related
engineering consultancy services.
RESERVES
The Company has transferred Rs. 40.000 Millions to its Reserves during
the year.
FIXED ASSETS
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. 53.90 |
|
|
1 |
Rs. 87.60 |
|
Euro |
1 |
Rs. 70.00 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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.