MIRA INFORM REPORT
|
Report Date : |
05.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
COOKSON INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
10, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2011 |
|
|
|
|
Date of
Incorporation : |
18.03.1931 |
|
|
|
|
Com. Reg. No.: |
21-007055 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 83.916 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909WB1931PTC007055 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer
of Consumable Electronics Assembly Materials to the Electronics Industry and
for Industrial and Automotive Applications. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3600000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Cookson Group PLC, UK. It is an old and well
established company having fine track record. Financial position of the
company appears to be sound. Trade relations are reported as fair. Payments
are reported to be regular and as per commitments. The company can be considered normal 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 : |
10, |
|
Tel. No.: |
91-33-22102380 |
|
Fax No.: |
91-33-22485125 |
|
E-Mail : |
|
|
|
|
|
Head Office / Factory : |
Plot No. 16, North Phase, SIDCO Industrial Estate, Ambattur, Chennai –
600098, Tamilnadu, India |
|
Tel. No. : |
91-44-26252666 |
|
Fax No. : |
91-44-26258627 |
DIRECTORS
AS ON 30.06.2012
|
Name : |
Mr. Raji Koshy |
|
Designation : |
Director |
|
Address : |
11-1, |
|
Date of Birth/Age : |
27.10.1956 |
|
Date of Appointment : |
01.12.1995 |
|
DIN No.: |
00467267 |
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 |
U51909WB1931PTC007055 |
COOKSON
INDIA PRIVATE LIMITED |
Managing
director |
01/12/1995 |
01/12/1995 |
Active |
NO |
|
2 |
U74900KA2011PTC059644 |
A R KOSHY
MANAGEMENT CONSULTANTS PRIVATE LIMITED |
Director |
19/07/2011 |
19/07/2011 |
Active |
NO |
|
Name : |
Mr. Siuli Sarkar |
|
Designation : |
Director |
|
Address : |
Flat – A308, Road Anandnagar, |
|
Date of Birth/Age : |
08.06.1956 |
|
Date of Appointment : |
24.03.1998 |
|
Voter ID No.: |
WB11911311507230 |
|
DIN No.: |
00388199 |
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 |
|
COOKSON
INDIA PRIVATE LIMITED |
Director |
24/03/1998 |
24/03/1998 |
Active |
NO |
|
2 |
U74900KA2011PTC059644 |
A R
KOSHY MANAGEMENT CONSULTANTS PRIVATE LIMITED |
Director |
19/07/2011 |
19/07/2011 |
Active |
NO |
|
Name : |
Mr. Purushottam Lal Agarwal |
|
Designation : |
Director |
|
Address : |
9, Sarojini Naidu Sarani, Kolkata – 700017, West |
|
Date of Birth/Age : |
02.04.1942 |
|
Date of Appointment : |
21.11.1996 |
|
Voter ID No.: |
WB1221531255168 |
|
DIN No.: |
00069708 |
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 |
L15492WB1916PLC002697 |
DHUNSERI
PETROCHEM AND TEA LIMITED |
Director |
23/02/1980 |
23/02/1980 |
03/07/2010 |
Active |
NO |
|
2 |
L51109WB1938PLC009490 |
ALBERT
DAVID LIMITED |
Director |
15/09/1984 |
15/09/1984 |
- |
Active |
NO |
|
3 |
U51909WB1943PLC011283 |
KARAM
CHAND THAPAR AND BROS (COAL SALES ) LIMITED |
Director |
24/12/1993 |
24/12/1993 |
- |
Active |
NO |
|
4 |
L01132WB1918PLC002949 |
TEZPORE
TEA COMPANY LIMITED |
Director |
29/12/1993 |
29/12/1993 |
- |
Amalgamated |
NO |
|
5 |
U74100DL1972PLC006062 |
DHARAM
PAL PREM CHAND LIMITED |
Director |
13/07/1996 |
13/07/1996 |
- |
Active |
NO |
|
6 |
U51909WB1931PTC007055 |
COOKSON
INDIA PRIVATE LIMITED |
Director |
21/11/1996 |
21/11/1996 |
- |
Active |
NO |
|
7 |
L51909WB1917PLC002868 |
OODLABARI
CO LIMITED |
Director |
07/04/1999 |
07/04/1999 |
- |
Active |
NO |
|
8 |
L01132WB1994PLC063513 |
ROSSELL
INDIA LIMITED |
Director |
04/04/2002 |
04/04/2002 |
- |
Active |
NO |
|
9 |
U91990WB1907GAP001754 |
THE
BENGAL CLUB LIMITED |
Director |
06/10/2002 |
06/10/2002 |
21/05/2012 |
Active |
NO |
|
10 |
U45400WB1983PLC036343 |
HILAND
PROJECTS LIMITED |
Director |
27/09/2006 |
27/09/2006 |
- |
Active |
NO |
|
11 |
L24223WB1947PLC015202 |
DIC
INDIA LIMITED |
Director |
12/05/2009 |
30/10/2008 |
11/04/2012 |
Active |
NO |
|
12 |
L15491WB1997PLC082808 |
DHUNSERI
INVESTMENTS LIMITED |
Director |
20/09/2010 |
11/08/2010 |
- |
Active |
NO |
|
13 |
L45400MH2008PLC179914 |
FUTURE
MARKET NETWORKS LIMITED |
Director |
28/09/2011 |
23/09/2010 |
- |
Active |
NO |
|
14 |
U01132WB2007PTC112852 |
AMALGAMATED
PLANTATIONS PRIVATE LIMITED |
Nominee
director |
20/04/2012 |
20/04/2012 |
- |
Active |
NO |
|
Name : |
Mr. Steven James Corbett |
|
Designation : |
Director |
|
Address : |
9, |
|
Date of Birth/Age : |
19.12.1957 |
|
Date of Appointment : |
05.06.2006 |
|
DIN No.: |
02770989 |
|
|
|
|
Name : |
Mr. Richard Andrew Regan III |
|
Designation : |
Director |
|
Address : |
16, Adam Park, |
|
Date of Birth/Age : |
22.03.1956 |
|
Date of Appointment : |
22.11.2001 |
|
DIN No.: |
02771001 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2012
|
Names of Shareholders |
No. of Shares |
|
Alpha Fry Limited ( |
126 |
|
Cookson Overseas Limited ( |
1 |
|
Cookson Investments Limited ( |
1 |
|
Cookson Overseas Investments Limited ( |
1 |
|
Cookson Minerals Limited ( |
1 |
|
Cookson Ceramics Limited ( |
1 |
|
Wilkes Lucas Limited (England) |
1 |
|
Cookson Group PLC ( |
8391468 |
|
TOTAL
|
8391600 |
AS ON 30.06.2012
|
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 |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of Consumable Electronics Assembly Materials to the Electronics Industry and for
Industrial and Automotive Applications. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS AS ON 31.12.2010
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Non-ferrous Alloys |
M.T. |
1500 |
673.03 |
|
Fluxes |
M.T. |
2000 |
510.55 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Associates Chartered Accountant |
|
Address : |
Flat No.1, SPA Mount 99 L D G Road, Little Mount, Chennai-600015, Tamilnadu,
India |
|
PAN No.: |
AAIFB7335D |
|
|
|
|
Holding Company : |
|
|
|
|
|
Fellow Subsidiaries : |
|
CAPITAL STRUCTURE
AS ON 31.12.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18000000 |
Equity Shares |
Rs.10/- each |
Rs. 180.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8391600 |
Equity Shares |
Rs.10/- each |
Rs. 83.916
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2011 |
31.12.2010 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
83.916 |
83.916 |
83.916 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
816.376 |
688.229 |
599.529 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
900.292 |
772.145 |
683.445 |
|
|
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 |
900.292 |
772.145 |
683.445 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
231.411 |
203.443 |
175.570 |
|
|
Capital work-in-progress |
12.951 |
4.523 |
3.187 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
3.240 |
5.163 |
1.510 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
73.039
|
55.155 |
71.705
|
|
|
Sundry Debtors |
287.734
|
219.940 |
197.876
|
|
|
Cash & Bank Balances |
158.934
|
178.852 |
222.378
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
263.508
|
225.528 |
108.674
|
|
Total
Current Assets |
783.215
|
679.475 |
600.633 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
115.094
|
104.723 |
79.783 |
|
|
Other Current Liabilities |
13.289
|
13.619 |
13.432
|
|
|
Provisions |
2.142
|
2.117 |
4.240
|
|
Total
Current Liabilities |
130.525
|
120.459 |
97.455 |
|
|
Net Current Assets |
652.690
|
559.016 |
503.178
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
900.292 |
772.145 |
683.445 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2011 |
31.12.2010 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
NA |
1130.647 |
1138.208 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Office Expenses |
NA |
1003.957 |
960.673 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
1003.957 |
960.673 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
180.700 |
126.690 |
177.535 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
52.600 |
37.989 |
53.225 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
128.100 |
88.701 |
124.310 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
687.600 |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
815.700 |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
79.475 |
53.929 |
|
|
|
Service Income |
NA |
114.219 |
140.661 |
|
|
TOTAL EARNINGS |
NA |
193.694 |
194.590 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
618.852 |
564.480 |
|
|
|
Laboratory Materials |
NA |
7.296 |
8.902 |
|
|
|
Capital Goods |
NA |
18.198 |
3.708 |
|
|
TOTAL IMPORTS |
NA |
644.346 |
577.090 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
15.27 |
10.57 |
14.81 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2011 |
31.12.2010 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
7.85 |
10.92
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.75
|
14.27 |
22.87
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.16 |
0.26
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.00
|
5.64 |
6.16
|
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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 |
No |
|
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 |
Yes |
|
34] |
External Agency Rating,
if available |
No |
BACKGROUND
Subject is a wholly
owned subsidiary of Cookson Group Plc headquartered in London. The Company is
engaged in the business of manufacture and sale of consumable electronics
assembly materials to the electronics industry and for Industrial and
automotive applications. The Company is also engaged in providing research and
development services to Group Company under 100% Export Oriented Undertaking
('EOU') Scheme at Bangalore, by obtaining permission from the Development
Commissioner, Cochin Special Economic Zone ('CSEZ'), Ministry of Commerce and
Industry, Government of India. The registered office of the Company is in
Kolkata.
REVIEW OF OPERATION
During the full
year 2011 period (January to December), the Company's sales were Rs. 1645.400
Millions against Rs. 1008.500 Million for the 9 months period April 2010 to
December 2010. The Service income from R and D Centre was Rs. 190.800 Millions
for full year 2011 against Rs. 114.200 Millions for 9 months period April 2010
to December 2010. The Company achieved a Profit before Taxation of Rs 180.700
Millions compared to Rs 126.700 Millions. However, for the current year, the
period is 12 months resulting in higher reported Profits as against 9 months
period in previous year. The increased Cash Flow is invested in Capital Equipment
in R and D Centre and hence the Board has not recommended any dividend for the
year 2011.
FIXED ASSETS
- Freehold Land
- Buildings
- Plant and
Machinery
- Computers
- Office
Equipment
- Furniture and
Fixtures
- Vehicles
- Leasehold
Improvements
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. 54.64 |
|
|
1 |
Rs. 82.41 |
|
Euro |
1 |
Rs. 70.07 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
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 |
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
53 |
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.