MIRA
INFORM REPORT
|
Report Date : |
15.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAFEFLEX INTERNATIONAL LIMITED |
|
|
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Registered
Office : |
15, Jaijawan Scheme No 1, Tonk Road, Jaipur – 302017, Rajasthan |
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|
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Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2012 |
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|
|
Date of
Incorporation : |
20.03.2006 |
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|
|
|
Com. Reg. No.: |
17-022242 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs. 26.810 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25151RJ2006PLC022242 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JPRS07103F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAJCS7201D |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Quality Bulk Bags.
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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 1200000 |
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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 a satisfactory track record.
Financially company is performing well. Trade relations 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 normal business dealings 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) |
|
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
ICRA has suspended its rating (BBB-) |
|
Rating Explanation |
Due to lack of information |
|
Date |
March, 2013 |
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 : |
15, Jaijawan Scheme No 1, |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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|
|
Corporate Office / Factory : |
F 6-10, Sez, Phase-1, Sector 3, Pithampur, Dist. Dhar, 454775, |
|
Tel. No.: |
91-7292-417000 |
DIRECTORS
As on 29.09.2012
|
Name : |
Mrs. Sunita Agrawal |
|
Designation : |
Whole Tim Director |
|
Address : |
77, Ashish Nagar, Kanadiya Road, Indore – 452016, Madhya Pradesh,
India |
|
Date of Birth/Age : |
06.07.1967 |
|
Date of Appointment : |
20.03.2006 |
|
DIN No.: |
00012414 |
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|
|
|
Name : |
Mr. Akhilesh Agrawal |
|
Designation : |
Director |
|
Address : |
15, Jai Jawan Colony Scheme No 1, Tonk Road, Jaipur –
302015, Rajasthan, India |
|
Date of Birth/Age : |
18.10.1959 |
|
Date of Appointment : |
20.03.2006 |
|
DIN No.: |
01970540 |
|
|
|
|
Name : |
Mr. Lalit Kumar Agrawal |
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Designation : |
Director |
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Address : |
3/ 204, Jawahar Nagar, Jaipur – 302004, |
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Date of Birth/Age : |
11.06.1946 |
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Date of Appointment : |
20.03.2006 |
|
DIN No.: |
01970578 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
Note: Major Shareholders detail file attached
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Bodies corporate |
29.57 |
|
Directors or relatives of Directors |
61.38 |
|
Other top fifty shareholders |
9.05 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Quality Bulk Bags.
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Products : |
· Hygiene · Fabric Styles · Lifting Style · Construction Style · Filling Type · Discharge Types · Liner · Special FIBCS ·
Baffle Liner |
PRODUCTION STATUS AS ON 31.03.2012
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
|
PP Bags / Fabric / Tape |
MT |
4800 |
4800 |
|
Particulars |
Unit |
Actual
Production |
|
Bags |
Nos. |
2380084 |
|
Fabrics (MT)* |
Nos. |
34.27 |
|
Lamination Film |
Nos. |
118.80 |
* Semi Finished
Goods
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
· Axis Bank Limited ·
State Bank of India |
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Facilities : |
NOTE
Cash Credit / EPC Limit from Axis Bank Limited, Y.N. Road Branch, Indore is secured by exclusive first charge on entire current assets (present and future) of the company and second charge on the entire fixed assets of the company (present and future) of the company and secured by persona) guarantee of five persons including 3 Directors. |
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Banking
Relations : |
-- |
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Financial Institution : |
Madhya Pradesh Financial Corporation, Capital Market
Division, Navratan Bagh, |
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Auditors : |
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|
Name : |
R. C. Siroya and company Chartered Accountant |
|
Address : |
303, |
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Tel No.: |
91-731-4225125 |
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|
91-9826022889 |
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Email : |
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PAN.: |
AGTPS5671G |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2752000 |
Equity Shares |
Rs.10/- each |
Rs.27.520
Millions |
|
|
|
|
|
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2610000 |
Equity Shares (Fully paid up) |
Rs.10/- each |
Rs.26.100
Millions |
|
142000 |
Equity Shares (Partly paid up) |
Rs. 5/- each |
Rs. 0.710
Million |
|
|
|
|
Rs. 26.810 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 |
26.810 |
26.010 |
26.010 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
273.261 |
163.074 |
108.696 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
300.071 |
189.084 |
134.706 |
|
|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
122.624 |
124.346 |
135.535 |
|
|
2] Unsecured Loans |
5.000 |
6.965 |
12.370 |
|
|
TOTAL BORROWING |
127.624 |
131.311 |
147.905 |
|
|
DEFERRED TAX LIABILITIES |
8.947 |
11.855 |
7.883 |
|
|
|
|
|
|
|
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TOTAL |
436.642 |
332.250 |
290.494 |
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|
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APPLICATION OF FUNDS |
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|
|
|
|
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|
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|
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FIXED ASSETS [Net Block] |
206.178 |
209.437 |
207.928 |
|
|
Capital work-in-progress |
46.625 |
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 |
94.425
|
81.211 |
58.986 |
|
|
Sundry Debtors |
67.693
|
59.635 |
30.252 |
|
|
Cash & Bank Balances |
8.890
|
5.076 |
5.166 |
|
|
Other Current Assets |
35.223
|
5.556 |
0.000 |
|
|
Loans & Advances |
43.280
|
17.727 |
16.056 |
|
Total
Current Assets |
249.511
|
169.205 |
110.460 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
30.938
|
18.244 |
23.172 |
|
|
Other Current Liabilities |
31.418
|
23.225 |
5.836 |
|
|
Provisions |
3.316
|
4.923 |
0.000 |
|
Total
Current Liabilities |
65.672
|
46.392 |
29.008 |
|
|
Net Current Assets |
183.839
|
122.813 |
81.452 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
1.114 |
|
|
|
|
|
|
|
|
TOTAL |
436.642 |
332.250 |
290.494 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
517.173 |
421.453 |
217.277 |
|
|
|
Other Income |
0.484 |
0.509 |
0.433 |
|
|
|
TOTAL (A) |
517.657 |
421.962 |
255.136 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
296.543 |
|
|
|
|
|
Employee Benefit Expense |
26.322 |
27.518 |
217.277 |
|
|
|
Other Expenses |
105.906 |
84.473 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
Stock-in-Trade |
(2.049) |
(14.061) |
|
|
|
|
TOTAL (B) |
426.722 |
336.470 |
217.277 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (A-B) (C) |
90.935 |
85.492 |
37.859 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
11.733 |
16.362 |
9.027 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
79.202 |
69.130 |
28.832 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
10.816 |
10.316 |
7.107 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
68.386 |
58.814 |
21.725 |
|
|
|
|
|
|
|
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|
Less |
TAX (H) |
(2.601) |
4.436 |
4.390 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
70.987 |
54.378 |
17.335 |
|
|
|
|
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|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
119.034 |
64.656 |
47.321 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
190.021 |
119.034 |
64.656 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of Goods Exported |
475.167 |
347.236 |
221.071 |
|
|
TOTAL EARNINGS |
475.167 |
347.236 |
221.071 |
|
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|
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|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
16.713 |
42.020 |
83.605 |
|
|
TOTAL IMPORTS |
16.713 |
42.020 |
83.605 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
27.20 |
20.91 |
7.27 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
13.71
|
12.89
|
6.79 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.22
|
13.96
|
10.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.01
|
15.53
|
6.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.31
|
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.43
|
0.69
|
1.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.80
|
3.65
|
3.81 |
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 |
DETAILS OF
UNSECURED LOAN
|
Particulars |
31.03.2012 |
31.03.2011 |
|
Inter Corporate Deposits |
1.500 |
5.715 |
|
From Directors |
0.000 |
0.350 |
|
From Others |
3.500 |
0.900 |
|
Total |
5.000 |
6.965
|
OPERATION:
The performance of the company was satisfactory. Maximum turnover of the company comprising of Exports and it is expected to achieve further goals in coming years of operations. The turnover of the company increased from Rs. 421.400 millions to Rs. 517.100 millions and profit after tax increased from Rs. 54.300 millions to Rs. 70.900 millions due to increased turnover. The management is working hard to get the optimum benefit of the available resources and keeping the check on expenses.
CONTINGENT LIABILITIES:
(Rs. in millions)
|
Particular |
31.03.2012 |
|
Letter of Credit Established (LC
Discounting) |
41.083 |
|
Outstanding Letter of Credit |
11.197 |
|
Forward Contract Exposure as on 31.03.2012 |
78.169 |
|
Bank Guarantee issued as on 31.03.2012 |
0.300 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U25151RJ2006PLC022242 |
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Name of the company |
SAFEFLEX INTERNATIONAL LIMITED |
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Address of the registered office or of the principal place of business in India of the company |
15, Jaijawan Scheme No 1, Tonk Road, Jaipur – 302017, Rajasthan, India Email: diamondsdco@gmail.com |
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|
This form is for |
Modification of charge |
||||||||||||||||||||
|
Charge identification (ID) number of the charge to be modified |
10158949 |
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Type of charge |
Immovable property Others (EM Of Immovable Property Of Director/Relative .) |
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Particular of charge holder |
Madhya Pradesh Financial Corporation, Capital Market Division, Navratan Bagh, Indore - 452001, Madhya Pradesh, India Email: capmkt@yahoo.com |
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|
Nature of instrument creating charge |
Memornadum of entry for equitable mortgage dated 19.02.2013 Inter-Se pari passue agreement dated 19.02.2013 |
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Date of instrument Creating the charge |
19.02.2013 |
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Amount secured by the charge |
Rs. 733.000 Millions |
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|
Brief of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per agreement and sanction letter. Terms of Repayment As per agreement and sanction letter Margin As per agreement and sanction letter Extent and Operation of the charge Equitable mortgage of immovable proerty of company situated at 1) 808-G and 808-H, Sector III, Industrial Area, Pithampur, Dhar 2) F6-F10, Sez, Sector-III, Industrial Area, Pithampur, District Dhar. The amount borrowed by company has been secured by the security of immovable property in favour of respective amount of lending given by mpfc, state bank of india and axis bank as per memorandum of entry.((ranking as per Memorandum of Deposit of Title deed). Others Equitable mortgage of properties of director/relatives as per agreement and sanction letter. |
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|
Short particulars of the property or asset(s) charged (including complete address and location of the property) |
Equitable mortgage of immovable proerty of company situated At 808-G and 808-H, Sector III, Industrial Area, Pithampur, Dhar. Equitable mortgage of immovable proerty of company situated at f6-f10, Sez, Sector-III, Industrial Area, Pithampur, District Dhar. |
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|
Whether any of the property or interest therein under reference is not registered in the name of the company |
Yes |
||||||||||||||||||||
|
If yes, in whose name it is registered |
IN THE NAME OF DIRECTOR AND RELATIVE |
||||||||||||||||||||
|
Date of instrument modifying the charge |
25.01.2012 |
||||||||||||||||||||
|
Particulars of the present modification |
Extension of EM to secure charge on total borrowing of Rs 733.000 millions (Term Loan of Rs. 513.000 millions and cash credit of Rs. 220.000 millions) as follows: (Rs. In millions)
|
FIXED ASSETS
· Leasehold Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Electrical Fittings
· Office Equipments
· Vehicles
·
Computer
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.54.44 |
|
|
1 |
Rs.83.78 |
|
Euro |
1 |
Rs.71.33 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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 |
|
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.