MIRA
INFORM REPORT
|
Report Date : |
06.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
CPS COLOR INDIA PRIVATE LIMITED (w.e.f. 07.10.2004) |
|
|
|
|
Formerly Known
As : |
COROB INDIA PRIVATE LIMITED |
|
|
|
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Registered
Office : |
158, Dani Wooltex Compound, Vidyanagri Marg, CST Road, Kalina,
Santacruz (East), Mumbai – 400098, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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|
|
|
Date of
Incorporation : |
25.02.1998 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs.15.000 Millions |
|
|
|
|
Com. Reg. No.: |
11-113726 |
|
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|
|
CIN No.: [Company Identification
No.] |
U29290MH1998PTC113726 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Trader of Tinting and Dispensing Machines, Shakers /
Mixers Machines and Colorants |
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|
|
|
No. of Employees
: |
500 (Approximately) (In Office + In Factory + In Branch) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 10000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. The
latest financials are not available. As per previous year’s, the company recorded huge accumulated losses.
The external borrowing seems to be huge. However, trade relations are reported to be fair. Business is active.
Payments are reported to be unknown. The company can be considered for business dealings with great
caution. Note: We hereby provide you the report with available details and we would provide you with a on the same company as soon as we get the additional information. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Manoj |
|
Designation : |
Finance Executive |
|
Contact No.: |
91-22-66497777 |
|
Date : |
05.04.2013 |
LOCATIONS
|
Registered Office / Factory / Branch Office 1 : |
158, Dani Wooltex Compound, Vidyanagri Marg, CST Road, Kalina,
Santacruz (East), Mumbai – 400098, Maharashtra, India |
|
Tel. No.: |
91-22-66497777 |
|
Fax No.: |
91-22-66497700 |
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E-Mail : |
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|
Website : |
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|
Location : |
Leased |
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|
|
|
Head Office / Branch Office 2: |
Plot No. 10 - 13 and 13 A, Daman Industrial Estate,
Somnath Road, |
|
Location : |
Owned |
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|
|
|
Other Branch
Office : |
Located at · Chennai · New Delhi |
DIRECTORS
AS ON 29.09.2011
|
Name : |
Timo Tapani Linna |
|
Designation : |
Director |
|
Address : |
Runeberginkatu 4cb 31 |
|
Date of Birth/Age : |
12.03.1956 |
|
Date of Appointment : |
23.11.2006 |
|
DIN No.: |
01342559 |
|
Name : |
Nils Henrik Lif |
|
Designation : |
Director |
|
Address : |
Vartavagen 8A, 183 63, Taby, Sweden |
|
Date of Appointment : |
15.02.2011 |
|
DIN No.: |
03411847 |
KEY EXECUTIVES
|
Name : |
Mr. Manoj |
|
Designation : |
Finance Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2011
|
Names of Shareholders |
No. of Shares |
|
|
|
|
CPS Color Equipment SPA, |
1499999 |
|
CPS Machine Group of Finland, Finland |
1 |
|
TOTAL |
1500000 |
AS ON 29.09.2011
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Tinting and Dispensing Machines, Shakers /
Mixers Machines and Colorants |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30 Days) |
|
|
|
|
Purchasing : |
Cash and Credit (30 Days) |
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Tinting and Dispensing Machines and Shaker/ Mixer Machines |
Nos. |
NA |
28000 |
6524 |
|
Canister Circuits |
Nos. |
NA |
7272 |
|
|
Upgradation Kit |
Nos. |
NA |
24654 |
Note: * As certified by the Management.
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users |
|
|
|
|
No. of Employees
: |
500 (Approximately) (In Office + In Factory + In Branch) |
|
|
|
|
Bankers : |
·
HSBC Bank, BKC Branch, Bandra, Mumbai,
Maharashtra, India ·
Citi Bank, Bandra Kurla Complex, G - Block,
Bandra (East), Mumbai - 400051, Maharashtra, India |
|
|
|
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Banking
Relations : |
-- |
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|
|
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Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, |
|
PAN No.: |
AAEFP5579P |
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Holding Company : |
CPS Color Equipment S.P.A |
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|
|
|
Fellow Subsidiaries : |
· Cidron Speccolor AB · CPS Color Group Oy · CPS Color Oy · CPS Color B.V. · CPS Color GmbH · CPS Color Ltda · CPS Color Pty Limited · CPS Color (Shanghai) Co Limited · CPS Color Invest Oy · CPS Color Holding BV · OOO CPS Color · CPS Color Trading (Shanghai) Co Limited · CPS Color Equipment Oy · CPS Color Equipment S.p.A · CPS Color S.A. · Corob LTDA (under liquidation) · CPS Color Scandinavia AB · CPS Color Equipment Inc. · CPS Color Holding Oy · Colorworld Solutions Private Limited · Lenteq Industries B.V. ·
CPS Color Equipment SA (under liquidation) |
CAPITAL STRUCTURE
After 29.09.2011
Authorised Capital : Rs.600.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.437.096 Millions
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs. 10 /- each |
Rs.30.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs. 10 /- each |
Rs.15.000
millions |
|
|
|
|
|
NOTE:
Of the above 1499999 equity shares are held by
CPS Color Equipment S.P.A,
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 |
15.000 |
15.000 |
15.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(12.422) |
(21.756) |
(0.085) |
|
|
NETWORTH |
2.578 |
(6.756) |
14.915 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
51.676 |
51.208 |
20.144 |
|
|
TOTAL BORROWING |
51.676 |
51.208 |
20.144 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
54.254 |
44.452 |
35.059 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
74.775 |
75.933 |
75.858 |
|
|
Capital work-in-progress |
1.537 |
0.378 |
0.177 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
277.625
|
179.252 |
143.289 |
|
|
Sundry Debtors |
292.291
|
254.847 |
192.697 |
|
|
Cash & Bank Balances |
56.592
|
68.461 |
85.929 |
|
|
Other Current Assets |
0.289
|
0.120 |
0.000 |
|
|
Loans & Advances |
133.746
|
113.774 |
99.833 |
|
Total
Current Assets |
760.543
|
616.454 |
521.748 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
760.916
|
634.488 |
554.508 |
|
|
Other Current Liabilities |
8.517
|
4.897 |
4.051 |
|
|
Provisions |
13.168
|
8.928 |
4.165 |
|
Total
Current Liabilities |
782.601
|
648.313 |
562.724 |
|
|
Net Current Assets |
(22.058)
|
(31.859) |
(40.976) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
54.254 |
44.452 |
35.059 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.3.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
989.560 |
726.306 |
559.052 |
|
|
|
Service Income |
90.305 |
14.208 |
0.000 |
|
|
|
Other Income |
8.884 |
34.453 |
6.084 |
|
|
|
TOTAL (A) |
1088.749 |
774.967 |
565.136 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Trading and other direct expenses |
|
615.482 |
470.920 |
|
|
|
Administrative and other Expenses |
|
160.767 |
113.039 |
|
|
|
TOTAL (B) |
1065.891 (Including
Financial Expenses) |
776.249 |
583.959 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
(1.282) |
(18.823) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
7.456 |
12.312 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION (C-D) (E) |
22.858 |
(8.738) |
(31.135) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
13.325 |
12.933 |
13.304 |
|
|
|
|
|
|
|
|
|
|
PROFIT /
(LOSS) BEFORE TAX (E-F)
(G) |
9.533 |
(21.671) |
(44.439) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.952 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) AFTER
TAX (G-H) (I) |
9.533 |
(21.671) |
(45.391) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(21.756) |
(0.085) |
38.826 |
|
|
|
|
|
|
|
|
|
Add |
Transfer from
General Reserve |
0.000 |
0.000 |
6.480 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(12.223) |
(21.756) |
(0.085) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
698.796 |
498.288 |
398.815 |
|
|
|
Service Income |
23.834 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
722.630 |
498.288 |
398.815 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw materials/components |
197.820 |
191.530 |
87.384 |
|
|
|
Machinery for trading |
6.030 |
3.196 |
2.777 |
|
|
|
Colorants |
19.610 |
11.797 |
10.358 |
|
|
|
Capital Goods |
0.688 |
2.021 |
0.000 |
|
|
TOTAL IMPORTS |
224.148 |
208.544 |
100.519 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
6.36 |
(14.00) |
(30.00) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.88
|
(2.80) |
(8.03) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.96
|
(2.98) |
(7.95) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.14
|
(3.13) |
(7.44) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
3.70
|
3.21 |
(2.98) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
20.04
|
(7.58) |
1.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.97
|
0.95 |
0.93 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS:
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors
|
|
|
|
|
- Small Micro Enterprises |
45.429 |
0.000 |
|
|
- Others |
715.487 |
634.488 |
|
|
Total |
760.916 |
634.488 |
554.508 |
|
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
Yes |
|
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 |
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 |
No |
|
34] |
External Agency Rating,
if available |
No |
DETAILS OF
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
31.03.2011
|
31.03.2010 |
|
|
|
|
|
Deposits with related parties |
51.676 |
51.208 |
|
TOTAL |
51.676 |
51.208 |
OPERATIONS
Improvement in the results as compared to previous year which is mainly due to increase in sales and service income. This is in spite of net foreign exchange loss of Rs. 34.482 Millions, inventory write off of Rs. 18.759 Millions due to discontinuance of products and increase in all other costs due to increased sales and business activities. This increase has been compensated by reduction in management fee charged by CPS Group of Rs. 8.553 Millions as compared to last year.
Sales has increased from Rs. 740.514 Millions in the previous year to Rs. 1079.865 Millions in the current year, which is mainly due to sales growth in Asia Pacific Region and Latin America. Further, during the year, the company is also started with new CPS Group R and D Colorants and Equipment projects in India resulting in additional revenue.
BACKGROUND
Subject earlier known as Corob India Private Limited (‘CPS’ or ‘the Company’) is a subsidiary of CPS Color Equipment S.p.A (formerly Corob S.p.A.), Italy setup in terms of FIPB approval bearing Ref. FC.II. 152(98)/111(98) dated April 7, 1998, and subsequent amendment dated August 4, 1998, March 26, 1999 and July 6, 2004.
The Company is engaged in the manufacture and sale of automatic tinting and dispensing machines and shaker mixers and trading in shaker mixers and colorants, at its factory located at Daman. The Company is also engaged in the business of servicing automatic tinting and dispensing machines and shaker mixers. These machines are widely used for dispensing of colours in the paint industry.
CONTINGENT
LIABILITY
(Rs.
In Millions)
|
Particulars
|
31.03.2011 |
31.03.2010 |
|
|
|
|
|
Outstanding financial bank guarantees |
0.000 |
0.200 |
|
Estimated sales tax liability in case of non-collection / non-submission of sales tax forms for availing concessional sales tax is to the extent |
7.163 |
5.877 |
FIXED ASSETS
- Leasehold Land
- Leasehold Improvement
- Buildings
- Plant and Machinery
- Electric Installation
- Office Equipments
- Furniture and Fixtures
- Vehicles
- Computers
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.54.88 |
|
|
1 |
Rs.83.54 |
|
Euro |
1 |
Rs.70.90 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
NO |
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 |
|
27 |
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.