MIRA INFORM REPORT
|
Report Date : |
01.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
JAYASHREE POLYMERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
21/4, D-1 Block, MIDC, Chinchwad, Pune-411019, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
02.02.1996 |
|
|
|
|
Com. Reg. No.: |
11-096879 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.16.742
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24134PN1996PTC096879 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEJ04748C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ4677K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Rubber Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1110000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track record.
Trade relations are reported as decent. Business is active. Payment terms are
usually correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including industrial
deregulation, privatization of state-owned enterprises, and reduced controls on
foreign trade and investment, began in the early 1990s and has served to
accelerate the country's growth, which has averaged more than 7% per year since
1997. India's diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India's output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis - in large
part because of strong domestic demand - and growth exceeded 8% year-on-year in
real terms. However, India's economic growth in 2011 slowed because of persistently
high inflation and interest rates and little progress on economic reforms. High
international crude prices have exacerbated the government's fuel subsidy
expenditures contributing to a higher fiscal deficit, and a worsening current
account deficit. Little economic reform took place in 2011 largely due to
corruption scandals that have slowed legislative work. India's medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
BBB [Long Term Fund Based Facilities] |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
25.01.2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
A3 [Short Term Fund Based Facilities] |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
25.01.2013 |
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 : |
21/4, D-1 Block, MIDC, Chinchwad, Pune-411019, Maharashtra, India |
|
Tel. No.: |
91-20-30691402 / 03/ 04 |
|
Fax No.: |
91-20-27440237 |
|
E-Mail : |
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|
Website : |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Ramdhari Surajbhan Agarwal |
|
Designation : |
Director |
|
Address : |
174/24, A, P.C.N.T., Nigdi, Pune 411044, |
|
Date of Birth/Age : |
11.03.1944 |
|
Date of Appointment : |
02.02.1996 |
|
Din No.: |
01185393 |
|
|
|
|
Name : |
Mr. Rajeev Ramdhari Bansal |
|
Designation : |
Whole-time director |
|
Address : |
174/24, A, P.C.N.T., Nigdi, Pune 411044, |
|
Date of Birth/Age : |
15.07.1975 |
|
Date of Appointment : |
11.09.2002 |
|
Din No.: |
01521770 |
|
|
|
|
Name : |
Mr. Vinodkumar Surajbhan Bansal |
|
Designation : |
Whole-time director |
|
Address : |
427/27, A, P.C.N.T., Nigdi, Pune 411044, Maharashtra, India |
|
Date of Birth/Age : |
05.10.1959 |
|
Date of Appointment : |
02.02.1996 |
|
Din No.: |
01678799 |
|
|
|
|
Name : |
Mr. Rahul Ramdhari Bansal |
|
Designation : |
Additional director |
|
Address : |
174/24, A, P.C.N.T., Nigdi, Pune 411044, Maharashtra, India |
|
Date of Birth/Age : |
01.08.1977 |
|
Date of Appointment : |
01.10.2009 |
|
Din No.: |
02988683 |
|
|
|
|
Name : |
Mr. Ajay Yashwant Pande |
|
Designation : |
Additional director |
|
Address : |
H No. 88, kiwale Dehu Road, Tal Haveli, Pune – 412101, Maharashtra,
India |
|
Date of Birth/Age : |
04.05.1958 |
|
Date of Appointment : |
30.09.2011 |
|
Din No.: |
03441421 |
|
|
|
|
Name : |
Varun Vinodkumar Bansal |
|
Designation : |
Additional director |
|
Address : |
427/27, A, P.C.N.T., Nigdi, Pune 411044, Maharashtra, India |
|
Date of Birth/Age : |
03.02.1989 |
|
Date of Appointment : |
29.12.2011 |
|
DIN No.: |
05227793 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
NOTE: SHAREHOLDING DETAILS FILE ATTACHED.
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Rubber Products. |
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|
Products : |
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GENERAL INFORMATION
|
Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
L B Laddha and Company Chartered Accountants |
|
Address : |
Flat No. 7 and 8, Secound Floor, Sukhwani Chambers, Station Road,
Pimpri, Pune-411018, Maharashtra, India |
|
Tel. No.: |
91-20-27426966 / 27420547 |
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E-Mail : |
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PAN No: |
AAJPL1258Q |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1674215 |
Equity Shares |
Rs.10/- each
|
Rs.16.742
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 |
16.742 |
16.742 |
16.742 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
261.240 |
219.041 |
185.201 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
277.982 |
235.783 |
201.943 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
440.205 |
409.010 |
269.125 |
|
|
2] Unsecured Loans |
175.049 |
134.037 |
82.612 |
|
|
TOTAL BORROWING |
615.254 |
543.047 |
351.737 |
|
|
DEFERRED TAX LIABILITIES |
6.397 |
2.328 |
1.814 |
|
|
|
|
|
|
|
|
TOTAL |
899.633 |
781.158 |
555.494 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
538.459 |
452.805 |
371.529 |
|
|
Capital work-in-progress |
0.771 |
4.873 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
60.957 |
46.917 |
41.722 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
214.017
|
187.821 |
67.541 |
|
|
Sundry Debtors |
316.164
|
248.257 |
161.616 |
|
|
Cash & Bank Balances |
3.417
|
6.532 |
1.145 |
|
|
Other Current Assets |
4.695
|
3.747 |
18.320 |
|
|
Loans & Advances |
133.470
|
74.697 |
17.516 |
|
Total
Current Assets |
671.763
|
521.054 |
266.138 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
275.740
|
162.319 |
98.742 |
|
|
Other Current Liabilities |
74.664
|
62.634 |
11.578 |
|
|
Provisions |
21.913
|
19.538 |
13.575 |
|
Total
Current Liabilities |
372.317
|
244.491 |
123.895 |
|
|
Net Current Assets |
299.446
|
276.563 |
1452.243 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
899.633 |
781.158 |
555.494 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
1232.897 |
827.237 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
1517.889 |
1232.897 |
827.237 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
1350.471 |
1088.347 |
696.797 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
1350.471 |
1088.347 |
696.797 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
167.418 |
144.550 |
130.440 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
66.245 |
40.399 |
23.073 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
101.173 |
104.151 |
107.367 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
53.049 |
45.119 |
37.090 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
48.124 |
59.032 |
70.277 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.061 |
20.327 |
28.694 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
47.063 |
38.705 |
41.583 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1.104 |
3.001 |
1.299 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
26.000 |
34.000 |
35.000 |
|
|
|
Dividend |
4.186 |
4.186 |
4.186 |
|
|
|
Tax on Dividend |
0.679 |
0.679 |
0.695 |
|
|
BALANCE CARRIED
TO THE B/S |
17.302 |
2.841 |
3.001 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
258.825 |
248.358 |
NA |
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
28.11 |
23.12 |
24.84 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.10
|
3.14
|
5.03 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.97
|
6.13
|
11.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.25
|
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.21
|
2.30
|
1.74 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.80
|
2.70
|
2.15 |
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 |
Yes |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
|
Unsecured Loan |
As
on 31.03.2012 [Rs.
in Millions] |
As
on 31.03.2011 [Rs.
in Millions] |
|
Non-convertible debentures others |
6.000 |
6.000 |
|
Deposits from others |
0.000 |
0.300 |
|
Loans and advances from related parties |
150.917 |
121.374 |
|
Term loans from banks |
5.423 |
0.000 |
|
Term loans from others |
12.709 |
6.363 |
|
TOTAL
|
175.049 |
134.037 |
OPERATIONS:
The Company’s
turnover has increased from Rs.1232.900 to Rs.1517.900 showing Millions an
increase of 23%. The EBIDTA has increased from Rs.144.500 Millions to
Rs.167.400 Millions showing an increase of 16%. The decrease was mainly on
account of foreign exchange losses due to sudden appreciation of dollar against
rupee due to which our FCNR and Buyer’s credit for purchase were adversely
affected and hence the drop in profit.
The wide
fluctuation in commodity prices also contributed to lower profits as the
Company was not able to pass on the entire increase in raw material prices to
the customers. The work on Chakan project is progressing well and Hosur project
is also on track and commercial production from Hosur plant is expected by
December end. The windmill division is also performing satisfactorily.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U24134PN1996PTC096879 |
|
Name of the
company |
JAYASHREE
POLYMERS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
21/4, D-1 Block, MIDC, Chinchwad, Pune 411019, Maharashtra, India |
|
This form is for |
Modification of charge |
|
Charge identification
(ID) number of the charge to be modified |
10052041 |
|
Type of charge |
|
|
Particular of
charge holder |
Citibank N. A., First Floor, Onyx Tower, Near Westin Hotel, North Main Road, Koregaon Park, Pune - 411001, Maharashtra, India |
|
Nature of
instrument creating charge |
Deed of
Modification. |
|
Date of
instrument Creating the charge |
31.08.2012 |
|
Amount secured by
the charge |
Rs.195.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest to be
charged at such rate/s as may be determined by the Bank from time to time. Terms of Repayment On Demand Margin As may be
stipulated by the Bank from time to time. Extent and Operation of the charge Hypothecation of
Current Assets and Movable fixed assets on first pari passu basis to Citibank
NA as security with Bank, as security for the repayment of the loan together
with all interest, liquidated damages, premia on prepayment or on redemption,
costs, charges and other expenses payable by Company to Citibank N.A. Others The charge
created herein for Rs.195.000 Millions in favour of Citibank shall rank pari
passu on first charge basis over current assets and movable fixed assets,
with the charges created in favour of Axis Bank Limited for their Fund Based
facilities of Rs.95.000 Millions. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation by
way of first pari passu charge on Current Assets and movable fixed assets of
the Company both present and future. Immovable Properties of the Company
situated at Pune, Haryana, Dhule and Haridwar. |
|
Date of
instrument modifying the charge |
07.07.2012 |
|
Particulars of
the present modification |
In addition to
the existing securities of Immovable Properties of the Company situated at Pune,
Haryana, Dhule and Haridwar, the charge of Rs.195.000 Millions shall also now
secure against the Current Assets and Movable Fixed Assets of the Company. |
FIXED ASSETS:
- Land and Land Improvements
- Building
- Plant Machinery
- Office Equipments
- Factory Equipments
- Furniture Fixtures
- 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.53.29 |
|
|
1 |
Rs.84.22 |
|
Euro |
1 |
Rs.72.23 |
INFORMATION DETAILS
|
Report Prepared by
: |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
44 |
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.