|
Report Date : |
04.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
SARASWATI PLASTOTECH INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1708, 3B-2, S.A.S. Nagar, Mohali – 160 059, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
22.10.2009 |
|
|
|
|
Com. Reg. No.: |
16-033308 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.50.000
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25200PB2009PTC033308 |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AANCS4692N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of all kinds of Plastic Bottles. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (12) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow and delayed |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record.
There appear huge accumulated losses recorded by the company. The external
borrowing seems to be huge which act as a threat to the liquidity position. However, business is active. Payments are reported to be slow and
delayed. The company can be considered for business dealings on a safe and
secured 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
SME - 5 |
|
Rating Explanation |
Creditworthiness of the company is below average. |
|
Date |
April, 2012 |
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 : |
1708, 3B-2, S.A.S. Nagar, Mohali – 160 059, |
|
Tel. No.: |
91-1923-220081 |
|
Mobile No.: |
91-9906023636 (Mr. Suraj Kumar Bansal) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Lane 4, Phase 1, SIDCO Industrial Complex, |
|
Tel. No.: |
91-1923-220081 |
|
Fax No.: |
91-1923-221433 |
|
E-Mail : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Suraj Kumar Bansal |
|
Designation : |
Managing Director |
|
Address : |
H. No.1192, Ward No.4, Kharar, Tehsil Kharar, District Roopnagar – 166
002, |
|
Date of Birth/Age : |
15.03.1979 |
|
Date of Appointment : |
22.10.2009 |
|
DIN No.: |
02006116 |
|
PAN No.: |
AAXPB4524D |
|
|
|
|
Name : |
Mr. Ravindra Mittal |
|
Designation : |
Director |
|
Address : |
A-3/122, Paschim Vihar, |
|
Date of Birth/Age : |
18.07.1964 |
|
Date of Appointment : |
22.10.2009 |
|
DIN No.: |
01094367 |
|
|
|
|
Name : |
Mrs. Sushma Bansal |
|
Designation : |
Director |
|
Address : |
H.No.1708, Phase-3-B-2, Part-1, District S.A.S. Nagar, Mohali – 160 055, |
|
Date of Appointment : |
06.11.2009 |
|
DIN No.: |
02377812 |
|
PAN No.: |
AGWPB7593B |
|
|
|
|
Name : |
Mr. Lalit Kumar Bansal |
|
Designation : |
Director |
|
Address : |
H.No.1708, Phase-3-B-2, Part-1, District S.A.S. Nagar, Mohali – 160 055, |
|
Date of Appointment : |
26.10.2009 |
|
DIN No.: |
02760030 |
|
PAN No.: |
AAXPB4546P |
|
|
|
|
Name : |
Mrs. Nidhi Jain |
|
Designation : |
Director |
|
Address : |
H. No.7, |
|
Date of Appointment : |
26.10.2009 |
|
DIN No.: |
02841487 |
|
PAN No.: |
AJDPJ7047C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Ravindra Mittal |
|
3000 |
|
Suraj Kumar Bansal |
|
324446 |
|
Sushma Bansal |
|
200000 |
|
Lalit Kumar Bansal |
|
761500 |
|
Nidhi Jain |
|
307500 |
|
Saraswati Agro Chemicals India Private Limited, |
|
3402954 |
|
Sanjeev Aggarwal |
|
100 |
|
Ashok Kumar Dhiman |
|
500 |
|
Total |
|
5000000 |
As on 30.09.2012
|
Names of Allottee |
|
No. of Shares |
|
Saraswati Agro Chemicals India Private Limited, India |
|
2000000 |
|
Total |
|
2000000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of all kinds of Plastic Bottles. |
|
|
|
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
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|||||||||||||||||||||
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Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Vijaya Gupta and Company Chartered Accountants |
|
Address : |
233, |
|
Tel. No.: |
91-191-2437733/ 2437744 |
|
PAN No.: |
ABAPG0037A |
CAPITAL STRUCTURE
After 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs.70.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs.70.000 millions |
|
|
|
|
|
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs.70.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
50.000 |
21.036 |
21.036 |
|
|
2] Share Application Money Pending Allotment |
20.000 |
0.280 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(42.517) |
(45.518) |
0.000 |
|
|
NETWORTH |
27.483 |
(24.202) |
21.036 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
600.124 |
459.523 |
191.587 |
|
|
2] Unsecured Loans |
285.566 |
184.150 |
125.900 |
|
|
TOTAL BORROWING |
885.690 |
643.673 |
317.487 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
913.173 |
619.471 |
338.523 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
640.225 |
456.012 |
94.254 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
171.724
|
68.057
|
6.139 |
|
|
Sundry Debtors |
47.592
|
32.758
|
0.000 |
|
|
Cash & Bank Balances |
24.188
|
1.896
|
9.071 |
|
|
Other Current Assets |
86.272
|
69.432
|
2.347 |
|
|
Loans & Advances |
28.770
|
102.861
|
218.755 |
|
Total
Current Assets |
358.546
|
275.004 |
236.312 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
13.531
|
3.024
|
2.603 |
|
|
Other Current Liabilities |
69.826
|
106.521
|
0.000 |
|
|
Provisions |
2.241
|
2.000
|
1.171 |
|
Total
Current Liabilities |
85.598
|
111.545
|
3.774 |
|
|
Net Current Assets |
272.948
|
163.459
|
232.538 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
11.731 |
|
|
|
|
|
|
|
|
TOTAL |
913.173 |
619.471 |
338.523 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
358.138 |
92.551 |
0.000 |
|
|
|
Other Income |
NA |
0.270 |
0.000 |
|
|
|
TOTAL |
NA |
92.821 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
NA |
34.379 |
0.000 |
|
|
|
Bank Interest |
NA |
23.862 |
0.000 |
|
|
|
Advertising Expenses |
NA |
0.015 |
0.000 |
|
|
|
Car Expenses |
NA |
0.309 |
0.000 |
|
|
|
Clearing and Forwarding Charges |
NA |
0.217 |
0.000 |
|
|
|
Telephone Expenses |
NA |
0.342 |
0.000 |
|
|
|
Traveling and Conveyance |
NA |
0.314 |
0.000 |
|
|
|
Water Charges |
NA |
0.012 |
0.000 |
|
|
|
Boarding and Lodging Expenses |
NA |
1.172 |
0.000 |
|
|
|
Establishment |
NA |
5.725 |
0.000 |
|
|
|
ESI Contribution |
NA |
1.027 |
0.000 |
|
|
|
House Rent Allowances |
NA |
3.527 |
0.000 |
|
|
|
Staff and Labour Welfare |
NA |
1.265 |
0.000 |
|
|
|
Other Expenses |
NA |
31.454 |
0.000 |
|
|
|
TOTAL |
NA |
103.620 |
0.000 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
47.544 |
(10.799) |
0.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
44.481 |
34.719 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) |
3.001 |
(45.518) |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
3.001 |
(45.518) |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
0.60 |
(21.64) |
0.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
(49.04) |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.84
|
(49.18) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.30
|
(6.23) |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
1.88 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
32.23
|
(26.59) |
15.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.19
|
2.46 |
62.62 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
Yes |
|
Unsecured Loans |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from others |
285.566 |
184.150 |
|
Total
|
285.566 |
184.150 |
Bankers Charges
Report as per Registry
|
Corporate identity number of the company |
U25200PB2009PTC033308 |
|
Name of the company |
SARASWATI PLASTOTECH INDIA PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
1708, 3B-2, S.A.S. Nagar, Mohali – 160 059, Punjab, India E-Mail: manik1996@yahoo.co.in |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable Property Book Debts Movable Property (not being pledge) |
|
Particular of charge holder |
The Jammu and Kashmir Bank Limited, SIDCO Industrial Complex,
Bari Brahamana, Jammu – 181 133, Jammu
and Kashmir, India E-Mail: estate@jkbmail.com |
|
Nature of description of the instrument
creating or modifying the charge |
Loan Agreement Hypothecation Agreement Term Loan -1-104.700 millions Term Loan -2-279.700 millions Term Loan- 3-90.000 millions |
|
Date of instrument Creating the charge |
19.12.2012 |
|
Amount secured by the charge |
Rs.474.400 millions |
|
Brief particulars of the principal terms
an conditions and extent and operation of the charge |
Rate of Interest: BR+1.50% (current effective 12%) Terms of Repayment: TL-1- 75 Months monthly installment of
Rs.1.750 millions. TL-2- 77 monthly installments of Rs.4.548 millions
till August 2017 and Rs.3.700 millions for September 2017 TL-3- 72 installments of 1.067 millions
and last 12 installments of Rs.1.100 millions commencing from April 2013 Interest in accounts to be serviced
separately as and when charged in the account. Margin: TL-1: 31.97% Extent and Operation of the charge: 100% Others: Personal guarantee of following four
Directors of the Company. Sh. Suraj Kumar Bansal, Smt Shushma Bansal, Lalit
Kumar Bansal, Nidhi Jain Corporate guarantee of Saraswati Agro Chemicals
Private Limited. |
|
Short particulars of the property charged |
Hypothecation of Plant and Machinery,
Miscellaneous Fixed Assets and Lab equipments installed /to be installed in the
unit at SIDCO Industrial Complex, Bari Brahamana, Jammu; installed P&M
having book value of Rs.586.800 millions as on 31.03.2012 . Equitable mortgage of factory building at
Lane No-4, Phase-I, SIDCO Industrial Complex, Bari Brahamana, Jammu along
with land underneath comprising of 3- -lease hold properties, total land measuring 19.00 Kanals and
constructions thereon in the name of the company Saraswati PlastoTech (India)
Private Limited valuing approximately
Rs.67.200 millions with. Equitable mortgage on land and building
comprising of 21 Kanals in the name
of Sh. Lalit Kumar Bansal & 18
Kanals 17 Marlas in the name of Suraj Kumar Bansal under khata no 7/7,
khasara no 16/7(7-13), 8/1(6-15), 12(4-9) situated at village Main Kharar
Equitable mortgage of land measuring 34 Bigha 16 Biswa situated at village
Nimbua, Dera Bassi Road, Distt Mohali in the name of Saraswati Agro Chemicals
(India) Private Limited under Khata No Min/191, 162 Min/193, Khasra No Khasra
No 33/6(4-0), 7(4-0), 8(5-1), 9(2-15), 11(4-4), 12(3-14), 13(13-14),
14(3-14). Equitable mortgage of land measuring 4
Kanals situated at Village Aujlan, Tehsil Kharar, Distt Mohali in the name of
Saraswati Agro Chemicals (India) Private Limited under Khewat/Khata No 16/17,
Khasra No 10/20 (8-0), 21/2(0-10), 12/1(2-4), 23(8-0), 24/1(4-0), 15(6-12),
16(6-14), 17(18-0), 24/2(4-0),25(7.4), 27(0-11) Equitable mortgage of land and building
measuring 2.85 Kanals under Plot no.53 and 54, Birpur, Bari Brahamana, Jammu in the name of Saraswati Agro Chemicals
(India) Private Limited. |
FIXED ASSETS:
·
Land
·
Building
·
Furniture and Fixture
·
Plant and Machinery
·
Refrigerator
·
Electric Fitting
·
Laboratory Equipment
·
D.G. Set
·
Computers
·
Dire Safety Equipments
·
Air Conditioners
·
Gantry Crane
·
Truck
·
Tool and Equipment
·
Mobile/ Telephone
·
Water Cooler
·
Weighing Machine
·
LCD
·
Car
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 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.54.39 |
|
|
1 |
Rs.82.05 |
|
Euro |
1 |
Rs.69.59 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
12 |
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.