|
Report Date : |
02.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
ADGUMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Mahalaxmi
Compound, Opposite
Rustom Jahangir Vaklmills Company Limited, Dudheshwar Road, Ahmedabad – 380009,
Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
12.02.1958 |
|
|
|
|
Com. Reg. No.: |
04-000885 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24299GJ1958PTC000885 |
|
|
|
|
TIN No.: |
24070100193 |
|
|
|
|
IEC No.: |
0800001800 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMA04606A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA9835E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of Gum Thickeners from Guar, Tamarind and Tapioca Starch for Printing of
Textile Dyes and Sizing of Cotton Fibres, for Beater and Wet-End Additive and
Surface Sizer in Paper Manufacture, Food Processing Stabilisers and Binding
Agents. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 137600 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record.
Trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces
a 119 year old registration. The Securities and Exchange Board of India has
approved the trading of currency futures on the Bombay Stock Exchange. The
exchange plans to launch the currency futures platform with advanced trading
technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
SE 2B |
|
Rating Explanation |
High performance capability and moderate
financial strength. |
|
Date |
October 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 : |
Mahalaxmi
Compound, Opposite
Rustom Jahangir Vaklmills Company Limited, Dudheshwar Road, Ahmedabad –
380009, Gujarat, India |
|
Tel. No.: |
91-79-25622632/ 25625922 |
|
Fax No.: |
91-79-25622876 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Naman Vidyapati Patel |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
17, Pratima Society, Navrangpura, Ahmedabad, Gujarat, India |
||||||||||||||||||||||||
|
Date of Appointment : |
01.04.1995 |
||||||||||||||||||||||||
|
DIN No.: |
01309860 |
||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Amit Doshi |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Vinod Nagarseth |
|
50 |
|
Hirabhai Patel |
|
20 |
|
Bhavaji Thakore |
|
20 |
|
Purushottamdas Bhatt |
|
10 |
|
Anand Amin |
|
10 |
|
Pushpawatiben Amin |
|
50 |
|
Purushottamdas Bhatt |
|
50 |
|
Jayaben Shah |
|
50 |
|
Vidhyapati Ratilal Patel |
|
11738 |
|
Manan Vidhyapati Patel |
|
4000 |
|
Naman Vidyapati Patel |
|
4000 |
|
Mahendra N. Kothari |
|
1 |
|
Rita Finance |
|
1 |
|
|
|
|
|
Total |
|
20000 |
AS ON 29.09.2012
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
99.00 |
|
Other
top fifty shareholders |
1.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Gum Thickeners from Guar, Tamarind and Tapioca Starch for Printing
of Textile Dyes and Sizing of Cotton Fibres, for Beater and Wet-End Additive
and Surface Sizer in Paper Manufacture, Food Processing Stabilisers and Binding
Agents. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
· Union Bank of India, Industrial Finance Branch, C.U. Shah Chamber, Ashram Road, Ahmedabad - 380014, Gujarat, India Union Bank of India, Karaka Building No. 1, Ellis Bridge,
Ashram Road, Ahmedabad - 380009, Gujarat, India |
|||||||||||||||||||||||||||||||||
|
|
|
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|
Facilities : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mayank Shah and Associates Chartered Accountants |
|
Address : |
706-708A, Mahakant, Opposite V.S. Hospital, Ellisbridge, Ahmedabad –
380006, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAMFM6146M |
|
|
|
|
Enterprise Under Significant Influence of Key Management Personnel : |
· Rita Finance Weavetax Engineers Markettic |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25,000 |
Equity Shares |
Rs. 100/- each |
Rs. 2.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20,000 |
Equity Shares |
Rs. 100/- each |
Rs. 2.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2.000 |
2.000 |
2.000 |
|
(b) Reserves & Surplus |
32.401 |
22.662 |
16.687 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
34.401 |
24.662 |
18.687 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
8.410 |
1.366 |
2.301 |
|
(b) Deferred tax liabilities (Net) |
0.992 |
0.335 |
0.418 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
9.402 |
1.701 |
2.719 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
59.876 |
39.074 |
25.276 |
|
(b)
Trade payables |
15.383 |
11.328 |
10.646 |
|
(c)
Other current liabilities |
5.044 |
1.113 |
3.190 |
|
(d) Short-term
provisions |
2.247 |
2.040 |
0.624 |
|
Total Current
Liabilities (4) |
82.550 |
53.555 |
39.736 |
|
|
|
|
|
|
TOTAL |
126.353 |
79.918 |
61.142 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
21.319 |
6.723 |
6.332 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
16.809 |
11.143 |
16.339 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.548 |
|
Total Non-Current
Assets |
38.128 |
17.866 |
23.219 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
24.967 |
9.218 |
9.143 |
|
(c)
Trade receivables |
58.631 |
49.442 |
24.989 |
|
(d) Cash
and cash equivalents |
1.113 |
2.136 |
2.865 |
|
(e)
Short-term loans and advances |
3.514 |
1.256 |
0.926 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
88.225 |
62.052 |
37.923 |
|
|
|
|
|
|
TOTAL |
126.353 |
79.918 |
61.142 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
273.013 |
183.724 |
101.942 |
|
|
|
Other Income |
NA |
1.263 |
1.153 |
|
|
|
TOTAL |
NA |
184.987 |
103.095 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
175.198 |
98.761 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
16.747 |
9.789 |
4.334 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.068 |
1.113 |
1.299 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
14.679 |
8.676 |
3.035 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
4.941 |
2.700 |
0.082 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
9.738 |
5.976 |
2.953 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
267.324 |
182.635 |
99.155 |
|
|
|
|
|
|
|
|
|
C.I.F. VALUE OF
IMPORT |
0.000 |
1.966 |
2.767 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
486.91 |
298.79 |
147.57 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA
|
3.23 |
2.86 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.38
|
4.72 |
2.98 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.62
|
10.86 |
4.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.43
|
0.35 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.99
|
1.64 |
1.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.07
|
1.16 |
0.95 |
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 |
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10347535 |
13/03/2012 |
5,000,000.00 |
UNION BANK OF
INDIA |
INDUSTRIAL
FINANCE BRANCH, C.U. SHAH CHAMBER, ASHRAM ROAD, AHMEDABAD - 380014, GUJARAT,
INDIA |
B36962306 |
|
2 |
10281624 |
18/04/2011 |
5,000,000.00 |
UNION BANK OF
INDIA |
INDUSTRIAL
FINANCE BRANCH, C.U. SHAH CHAMBER, ASHRAM ROAD, AHMEDABAD - 380014, GUJARAT,
INDIA |
B11037355 |
|
3 |
90102375 |
24/06/2004 |
2,500,000.00 |
UNION BANK OF
INDIA |
INDUSTRIAL FINANCE
BRANCH, C.U. SHAH CHAMBER, ASHRAM ROAD, AHMEDABAD - 380014, GUJARAT, INDIA |
- |
|
4 |
90102301 |
19/01/2013 * |
79,100,000.00 |
UNION BANK OF
INDIA |
KARAKA BUILDING
NO. 1, ELLIS BRIDGE, ASHRAM RD, AHMEDABAD - 380009, GUJARAT, INDIA |
B67480459 |
|
5 |
90102214 |
30/10/2002 |
300,000.00 |
UNION BANK OF
INDIA |
DUDHESHWAR
BRANCH, AHMEDABAD, GUJARAT, INDIA |
- |
|
6 |
90101793 |
24/10/2002 * |
1,570,000.00 |
UNION BANK OF
INDIA |
DUDHESHWAR
BRANCH, AHMEDABAD, GUJARAT, INDIA |
- |
* Date of charge modification
COMPANY INFORMATION
Adgums Private
Limited is an 100% EOU and involved into business of Gum Thickeners from Guar,
Tamarind and Tapioca Starch for Printing of Textile Dyes and Sizing of Cotton
Fibres, for Beater and Wet-End Additive and Surface Sizer in Paper Manufacture,
Food Processing Stabilisers and Binding Agents.
OPERATIONS REVIEW
During the year the turnover (Net) of the company has increased from Rs.
183.724 Millions to Rs.273.013 Millions. Net Profit after tax over the same
period have Increased from Rs. 5.976 Millions to Rs.9.738 Millions.
FUTURE OUTLOOK
The company is hopeful of achieving reasonable performance for the
current year. The company is in continuance search to explore other foreign
countries for export market. The quality product of the company have make a
mark in abroad market. The thrust on the competitive strength and consolidation
of customer relationship has resulted into a brighter future for the company.
Looking to overall good response to the product of the company, the Directors
are optimistic of achieving higher turnover and profits during current
Financial Year.
CONTINGENT
LIABILITIES [AS ON 31.03.2013]:
Contingent Liability Not Provided for:
a) Guarantees
issued by the bank on behalf of the company for Rs.0.332 Million in favor of
Central Excise department.
FIXED ASSETS:
· Air Cooler
Two
Wheeler
Building
Electric
Installation
Furniture
Machinery
Motor
Cars
Office
Equipment
Typewriter
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 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. 62.39 |
|
|
1 |
Rs. 102.06 |
|
Euro |
1 |
Rs. 84.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.