|
Report Date : |
26.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
KANCOR INGREDIENTS LIMITED [w.e.f. 25.03.2011] |
|
|
|
|
Formerly Known
As : |
KANCOR FLAVOURS AND EXTRACTS LIMITED |
|
|
|
|
Registered
Office : |
Rajan House, Appasaheb Marathe Marg, Prabhadevi, Mumbai-400025,
Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
03.05.1990 |
|
|
|
|
Com. Reg. No.: |
09-5658 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.93.600
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909KL1990PLC005685 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRK05488A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK9969R |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers, Traders, Dealers, Importers and Exporters of Spice Oleoresins, Essential Oils, Seasonings and Natural Colors Botanicals like Sena Leaves, Gymmema Leaves, etc. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 990000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Unknown |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is a part of Mariawalla Group. A well known industrial house
having strong brand image and presence in FNICG Segment. It is an established company having a moderate track record. The
financial for the year 2010-2011, 2011-2012 are not available with the
government department. As per the available financial of 2010. The company performance seems
to be satisfactory. Trade relations are reported to be fair. Business is
active. Payments are unknown. The company can be considered for business dealings with some caution. |
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 |
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 DECLINED BY
|
Name : |
Mr. Ranganathan |
|
Designation : |
Financial Manager |
|
Contact No.: |
91-484-2452236 |
|
Date : |
25.04.2013 |
LOCATIONS
|
Registered Office : |
Rajan House, Appasaheb Marathe Marg, Prabhadevi, Mumbai-400025,
Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
814/C, Second Floor, Near Suburban Club, |
|
Tel. No.: |
91-484-2575651/ 2575652/ 3107031/ 3107032 |
|
Fax No.: |
91-484-2575653 |
|
E mail: |
|
|
|
|
|
Factory 1 : |
Kancor Extracts |
|
Tel. No.: |
91-484-2456451 |
|
Fax No.: |
91-484-2452662 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Kancor Essential Oils |
|
Tel. No.: |
91-484-2456450 |
|
Fax No.: |
91-484-2452662 |
|
E-Mail : |
|
|
|
|
|
Factory 3: |
Kancor Botanicals |
|
Tel. No.: |
91-484-2456951 |
|
Fax No.: |
91-484-2452662 |
|
E-Mail : |
|
|
|
|
|
Factory 4 : |
Kancor Nutraceuticals |
|
Tel. No.: |
91-484-2456595 |
|
Fax No.: |
91-484-2452662 |
|
E-Mail : |
|
|
|
|
|
Factory 5: |
Wheel House, 24/2014, Indira Gandhi Road, Wellingdon Island, Kochi – 682003, Kerala, India |
|
Tel. No.: |
91-484-2669879/2669910 |
|
Fax No.: |
91-484-2669878 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Sanjay J. Mariwala |
|
Designation : |
Managing Director |
|
Address : |
E-9, Willingdon Enclave, |
|
Date of Birth/Age : |
02.01.1960 |
|
Date of Appointment : |
03.05.1990 |
|
|
|
|
Name : |
Mr. Jayasingh V. Mariwala |
|
Designation : |
Chairman and Director |
|
Address : |
Sudha Kunj, 3, |
|
Date of Birth/Age : |
09.07.1933 |
|
Date of Appointment : |
03.05.1990 |
|
|
|
|
Name : |
Mr. Ajay Jayasinh Mariawala |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
24.01.1963 |
|
Date of Appointment : |
27.03.1995 |
|
|
|
|
Name : |
Mr. J J Negandhi |
|
Designation : |
Director |
|
Address : |
41/A B Paul Abrao Residency, 41/2480 Chittor Road, Kacheripadi,
Cochin-682018, Kerala, India |
|
Date of Birth/Age : |
31.05.1995 |
|
Date of Appointment : |
01.02.2007 |
|
|
|
|
Name : |
Mr. Bipin R. Shah |
|
Designation : |
Director |
|
Address : |
368, B, Manali, |
|
Date of Birth/Age : |
16.07.1932 |
|
Date of Appointment : |
02.01.1992 |
KEY EXECUTIVES
|
Name : |
Mr. Sijo Varghese |
|
Designation : |
Secretary |
|
Address : |
Koonammave House, Kuttikad Post, Chalakudy (VIA), Thrissur,
Kerala-680724, |
|
Tel No.: |
91-480-2747358 |
|
Email: |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Jaysinh V Mariwala |
|
240 |
|
Sanjay J Mariwala |
|
825120 |
|
Ajay J Mariwala |
|
825120 |
|
Mohan J Mariwala |
|
825120 |
|
Nandana S Mariwala |
|
120 |
|
Anuja A Mariwala |
|
120 |
|
Madhavi Mohan Mariwala |
|
120 |
|
J V Mariwala, Trustee – J V Mariwala Family Trust |
|
1080960 |
|
Sanjav J Mariwala, Trustee- J V Mariwala Family Trust |
|
4978080 |
|
J V Mariwala HUF |
|
825000 |
|
Total |
|
9360000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2010
|
Category |
|
Percentage |
|
Directors or relatives of Directors |
|
26.45 |
|
Other top fifty (50) shareholders (other than listed above) |
|
73.55 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers, Traders, Dealers, Importers and Exporters of Spice Oleoresins, Essential Oils, Seasonings and Natural Colors Botanicals like Sena Leaves, Gymmema Leaves, etc. |
||||||
|
|
|
||||||
|
Products : |
|
PRODUCTION STATUS AS ON 31.03.2010
|
Particulars |
Unit |
|
Installed
Capacity |
Actual
Production |
|
Oleoresin Products |
M.T |
|
852* |
842 |
|
Essential Oils |
M.T |
|
300 |
262 |
|
Botanicals |
M.T |
|
NA |
870@ |
|
Others |
M.T |
|
NA |
637@ |
Notes
* Subject to product mix
@ Production quantity represents drying up of products using natural
resources.
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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No. of Employees : |
Information declined by management |
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Bankers : |
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||||||||||||||||||||||||
|
Facilities |
|
||||||||||||||||||||||||
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Banking
Relations : |
Good |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Coopers Chartered Accountant |
|
Address : |
257, Veersavarkar Marg, |
|
|
|
|
Associates : |
· Kancor Colours Limited · OmniActive Health Technologies Limited ·
OmniActive Health Technologies Inc, |
|
|
|
|
Subsidiaries : |
Kanmar Infrastructure Private Limited U45203KL2007PTC021367 |
|
|
|
|
Entities whose control exists : |
JV Mariwala Family Trust (From October 1, 2009) |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs. 10/- each |
Rs.100.000 Millions |
|
5000000 |
Cumulative Redeemable Preference Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.150.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9360000 |
Equity Shares |
Rs. 10/-
each |
Rs.93.600
Millions |
|
|
|
|
|
Of the above
1560000 (PY. 1560000) Equity Share were issued
as fully paid bonus share by capitalization of Capital Redemption reserve.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
93.600 |
93.600 |
93.600 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
153.119 |
87.118 |
58.543 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
246.719 |
180.718 |
152.143 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
339.328 |
353.653 |
298.350 |
|
|
2] Unsecured Loans |
25.973 |
18.663 |
24.583 |
|
|
TOTAL BORROWING |
365.301 |
372.316 |
322.933 |
|
|
DEFERRED TAX LIABILITIES |
23.611 |
17.194 |
15.425 |
|
|
|
|
|
|
|
|
TOTAL |
635.631 |
570.228 |
490.501 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
212.942 |
174.497 |
161.037 |
|
|
Capital work-in-progress |
9.814 |
45.593 |
34.473 |
|
|
|
|
|
|
|
|
INVESTMENT |
27.027 |
26.977 |
26.975 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
258.676
|
312.842 |
304.404 |
|
|
Sundry Debtors |
267.330
|
198.358 |
122.310 |
|
|
Cash & Bank Balances |
42.984
|
62.407 |
32.371 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
136.841
|
144.446 |
103.544 |
|
Total
Current Assets |
705.831
|
718.053 |
562.629 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
260.461
|
285.523 |
235.803 |
|
|
Other Current Liabilities |
14.751
|
67.597 |
41.067 |
|
|
Provisions |
44.771
|
41.772 |
17.743 |
|
Total
Current Liabilities |
319.983
|
394.892 |
294.613 |
|
|
Net Current Assets |
385.848
|
323.161 |
268.016 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
635.631 |
570.228 |
490.501 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1899.382 |
1781.407 |
1243.768 |
|
|
|
Export Benefits |
52.137 |
57.128 |
40.720 |
|
|
|
Other Income |
8.151 |
3.585 |
31.320 |
|
|
|
TOTAL (A) |
1959.670 |
1842.120 |
1315.808 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Materials |
1419.765 |
1365.110 |
1006.971 |
|
|
|
Staff Cost |
105.914 |
94.893 |
73.298 |
|
|
|
Manufacturing ands other expenses |
204.815 |
170.427 |
147.169 |
|
|
|
Exceptional Item – Expenses/ Income |
[17.895] |
40.275 |
0.000 |
|
|
|
TOTAL (B) |
1712.599 |
1670.705 |
1227.438 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
247.071 |
171.415 |
88.370 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
100.461 |
100.317 |
60.413 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
146.610 |
71.098 |
27.957 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
19.893 |
13.278 |
12.373 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
126.717 |
57.820 |
15.584 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
47.618 |
23.769 |
7.998 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
79.099 |
34.051 |
7.586 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
60.302 |
31.727 |
31.641 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
2.500 |
0.000 |
7.500 |
|
|
|
Proposed Dividend |
11.232 |
4.680 |
0.000 |
|
|
|
Corporate dividend tax |
1.866 |
0.796 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
123.803 |
60.302 |
31.727 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.45 |
3.64 |
0.81 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.04
|
1.85 |
0.58 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.67
|
3.25 |
1.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.79
|
6.48 |
2.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.51
|
0.32 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debts/Networth) |
|
1.48
|
2.06 |
2.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.21
|
1.82 |
1.91 |
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) |
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 |
NOTE
The registered office of the company has been shifted from VII/138 P B
No. 3Kanakkankadavu Road, Angamaly South, Ernakulam, Kerala- 683573, India to
the present address w.e.f. 24.01.2013
BACKGROUND
The company is engaged in the manufacturer and export of spice oleoresins, spice oils, essential oils, natural colours and botanicals. Oleoresins are used in the various formulations, encapsulated ingredients, processed meats, sauces, gravy mixed, soups etc. The company sells its products to internationally known companies.
PERFORMANCE:
During the financial year 2009-10, the turnover increased from Rs.
1781.400 Millions in the previous year to Rs. 1899.300 Millions. the profit
after current tax was at Rs. 82.800 Millions compared to Rs. 34.051 Millions of
the previous year.
UNSECURED LOAN
|
Particulars |
31.03.2010 Rs. In Millions |
31.03.2009 Rs. In Millions |
|
Inter Corporate
Loans |
|
|
|
Long Term* |
|
|
|
Repayable within a year Rs. 0.477 Million (PY Rs. 0.513 Million) |
11.793 |
13.813 |
|
Short Term |
13.430 |
4.100 |
|
From Member : Interest Free- Repayable on demand |
0.750 |
0.750 |
|
Total |
25.973 |
18.663 |
|
* Includes interest free of Rs. 11.316 Millions (PY Rs. 10.783 Millions) which is repayable on demand. This loan is taken for SJM Finance and Investments Private Limited which was holding company upto 30th September 2009 |
||
CONTINGENT
LIABILITIES NOT PROVIDED FOR:
|
Particulars |
31.03.2010 Rs
in Millions |
|
Guarantee issued by banks on behalf of the company |
7.976 |
|
Sales bill discounted by banks |
406.478 |
|
Sales tax demands disputed by the company |
0.441 |
|
Provident fund demand relating to contract labour disputed by the
company |
0.890 |
|
Excise duty demands disputed by company |
7.675 |
|
Service tax demands disputed by company |
1.341 |
|
Guarantees given to a bank in respect of credit facilities available
to an Associate Company |
122.000 |
Fixed Assets:
·
·
·
Leasehold Improvements
·
Plant and Machinery
·
Furniture and Fixtures
·
Vehicles
·
Computer Software
·
Know how
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.54.17 |
|
|
1 |
Rs.82.99 |
|
Euro |
1 |
Rs.70.62 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
36 |
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.