MIRA INFORM REPORT
|
Report Date : |
02.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
SUNRISE CONTAINERS LIMITED |
|
|
|
|
Registered
Office : |
405, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
23.06.1986 |
|
|
|
|
Com. Reg. No.: |
11-040194 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 89.100 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28129MH1986PLC040194 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS35824F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS5997C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of PET Preforms, PET Jars, PET Bottles for Medical and
Other Packaging Industry. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3270000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track record. There
appears some dip in the profitability of the company. However, general
financial position of the company is good. Trade relations are reported as fair.
Business is active. Payments are reported to be regular and as per
commitment. 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 – 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 |
A1 (Non – fund based limit) |
|
Rating Explanation |
The highest credit quality. It carry lowest
credit risk |
|
Date |
16.07.2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
A – (Fund based limit) |
|
Rating Explanation |
The adequate credit quality. It carry
average credit risk |
|
Date |
16.07.2012 |
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 : |
405, |
|
Tel. No.: |
91-22-26861701 |
|
Fax No.: |
91-22-26862714 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Kanhaiyalal Mundhra |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
601, Millinium Park, Upavan Layout, Upper Govind Nagar, C-Wing,
Malad (East), Mumbai – 400097,
Maharasahtra, India |
|
Date of Birth/Age : |
01.01.1944 |
|
Date of Appointment : |
23.06.1986 |
|
DIN No.: |
00087385 |
|
|
|
|
Name : |
Mr. Devkishan Mannalal Mundhra |
|
Designation : |
Director |
|
Address : |
401, Millinium Park, Upavan Layout, Upper Govind Nagar, C-Wing, Malad (East), Mumbai – 400097, Maharashtra, India
|
|
Date of Birth/Age : |
15.06.1950 |
|
Date of Appointment : |
23.06.1986 |
|
DIN No.: |
00095233 |
|
|
|
|
Name : |
Mr. Dwaraka Prasad Mundhra |
|
Designation : |
Director |
|
Address : |
401, Santosh Apartment, 25 Raghunath Avenue , Kil Park, Chennai-400 006, Tamilnadu, India |
|
Date of Birth/Age : |
20.06.1958 |
|
Date of Appointment : |
12.12.1997 |
|
DIN No.: |
00091662 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Kanhaiyalal Mundhra |
|
771900 |
|
Devkishan Mundhra |
|
30000 |
|
D.K.Mundha Investment and Trading Private Limited, |
|
1950000 |
|
Mannalal Investment and Trading Private Limited, |
|
1968000 |
|
Santoshkumar Mundhra |
|
135000 |
|
Shreekishan Mundhra |
|
12000 |
|
Dwarka Prasad Mundhra |
|
94200 |
|
K.L Mundhra Investment and Trading Private Limited, |
|
1868400 |
|
Shreekishan Mundhra HUF |
|
6000 |
|
Chanda Devi Mundhra |
|
294600 |
|
Bhagwati Devi Mundhra |
|
6000 |
|
Umesh Kumar Mundhra |
|
117000 |
|
Devkishan Mundhra HUF |
|
6000 |
|
Hitesh Kumar Mundhra |
|
562800 |
|
Dinesh Kumar Mundhra |
|
117000 |
|
K.L. Mundhra HUF |
|
657900 |
|
Rajesh Kumar Mundhra |
|
16200 |
|
Hitesh Plastics Private Limited , |
|
297000 |
|
TOTAL |
|
8910000 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2012
|
Category |
Percentage |
|
Bodies corporate |
68.28 |
|
Directors or relatives of Directors |
31.72 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of PET Preforms, PET Jars, PET Bottles for Medical and
Other Packaging Industry. |
||||
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|
||||
|
Products : |
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GENERAL INFORMATION
|
Customers : |
Medical Bottles ·
Alkem Laboratories Limited
·
Lupin Laboratories Limited ·
Medley Pharmaceuticals Limited ·
Novartis Consumer Health India Pvt. Limited ·
Ranbaxy Limited ·
Sanofi Symhelabo ( ·
Wyeth Limited. ·
Wockhardt Limited ·
Zandu Pharmaceuticals Limited Jars Bottles ·
Parle Products Private Limited ·
Johnson and Johnson Limited ·
Maxwell Industries Limited ·
Beiersdorf India Private Limited. ·
Cadbury's India Limited ·
Aavin ·
Nilon's Enterprises Private Limited ·
Bajaj Foods Limited ·
Maker's Laboratories Limited ·
U. S. Pharma (I) Private Limited. ·
AVT Me-cormick Ingredients Private Limited |
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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 : |
Jain Vijay and Company Chartered Accountants |
|
Address : |
305, Sona Chamber, 507/509, Chira Bazar, Mumbai – 400002, |
|
PAN.: |
AACPJ0536E |
|
|
|
|
Associated Company Under Significant influence of
Key Management and their relatives: |
|
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
8910000 |
Equity Shares |
Rs.10/- each |
Rs. 89.100
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 |
89.100 |
89.100 |
89.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
728.571 |
647.651 |
549.320 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
817.671 |
736.751 |
638.420 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
101.736 |
124.069 |
138.819 |
|
|
2] Unsecured Loans |
93.443 |
67.475 |
11.275 |
|
|
TOTAL BORROWING |
195.179 |
191.544 |
150.094 |
|
|
DEFERRED TAX LIABILITIES |
45.005 |
50.759 |
43.883 |
|
|
|
|
|
|
|
|
TOTAL |
1057.855 |
979.054 |
832.397 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
584.548 |
580.864 |
501.944 |
|
|
Capital work-in-progress |
8.033 |
7.577 |
28.988 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.001 |
0.001 |
0.001 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
212.928
|
213.676 |
170.766
|
|
|
Sundry Debtors |
260.307
|
217.374 |
162.997
|
|
|
Cash & Bank Balances |
18.027
|
16.679 |
28.823
|
|
|
Other Current Assets |
0.552
|
1.080 |
0.000
|
|
|
Loans & Advances |
105.861
|
104.733 |
87.167
|
|
Total
Current Assets |
597.675
|
553.542 |
449.753 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
69.738
|
39.023 |
70.378
|
|
|
Other Current Liabilities |
62.013
|
113.552 |
29.397
|
|
|
Provisions |
0.651
|
10.355 |
48.514
|
|
Total
Current Liabilities |
132.402
|
162.930 |
148.289 |
|
|
Net Current Assets |
465.273
|
390.612 |
301.464 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1057.855 |
979.054 |
832.397 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1931.354 |
1512.397 |
1445.206 |
|
|
|
Other Income |
7.951 |
1.675 |
23.544 |
|
|
|
TOTAL (A) |
1939.305 |
1514.072 |
1468.750 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1221.208 |
940.283 |
|
|
|
|
Employee benefit expense |
54.095 |
45.419 |
1178.803 |
|
|
|
Other expenses |
419.993 |
355.634 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
8.836 |
(43.297) |
|
|
|
|
TOTAL (B) |
1704.132 |
1298.039 |
1178.803 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
235.173 |
216.033 |
289.947 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
37.679 |
8.140 |
13.146 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
197.494 |
207.893 |
276.801 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
92.698 |
80.586 |
68.008 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
104.796 |
127.307 |
208.793 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
23.976 |
18.620 |
39.435 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
80.920 |
108.687 |
169.358 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
547.675 |
454.343 |
318.471 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
0.000 |
15.355 |
33.486 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
628.595 |
547.675 |
454.343 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
9.08 |
12.20 |
19.58 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
4.17
|
7.18 |
11.53
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.43
|
8.42 |
14.45
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.86
|
11.22 |
21.94
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.17 |
0.33
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.29
|
0.26 |
0.24
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.51
|
3.40 |
3.03
|
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] |
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 |
UNSECURED LOAN
|
Unsecured Loan |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Intercorporate borrowings |
48.243 |
8.075 |
|
Deposits from directors |
45.200 |
59.400 |
|
Total |
93.443 |
67.475 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U28129MH1986PLC040194 |
|
Name of the company |
SUNRISE CONTAINERS LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
405, Acme Industrial Park, Off. I. B. Patel Road, Goregaon (East),
Mumbai – 400063, Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
|
|
Particular of charge holder |
Citibank N. A., Plot No.61, Citigroup Centre, Bandra Kurla Complex, Bandra
(East), Mumbai-400051, Maharashtra, India Email: vlaxman@vsnl.com |
|
Nature of instrument creating charge |
Goods Security Agreement Cum Loan Agreement for Hypothecation of
Stocks, Book Debts and for property mortgage. |
|
Date of instrument Creating the charge |
25.07.2012 |
|
Amount secured by the charge |
Rs. 150.000 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest Interest on principal amount of the aforesaid fund based facilities
advanced and outstanding from time to time @ 12.75% p.a. (exclusive of
applicable interest tax). Terms of Repayment On Demand. Margin 20% against Plant and Machinery, Stocks, Book Debts, Property. Extent and Operation of the charge The hypothecated Assets by way of first charge shall remain as
security to the Bank for the due repayment by Borrower to the Bank of the
credit facilities together with interest, costs, charges and expenses and
other monies payable by the Borrowers AND also for due payment and discharge
of all indebtedness/liability of the Borrowers to the Bank. The Company further agree to create first charge on Immovable Properties
of the Company situated at Umbergaon, Gujarat. Other The Company expressly
recognises and accepts that the Bank shall be absolutely entitled and have
full power/authority to sell, assign or transfer in any manner and on such
terms as the Bank may decide any or all outstanding dues of the Company to
any third party of the Bank's choice without any further reference or
intimation to the Company. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
First Paripassu charge on the whole of the Companys present and future
stocks of raw materials, goods in
process of manufacture, semi-finished goods and all finished First Paripassu charge on all of the Company's present and future book
debts, outstanding Monies, receivables, claims, bills, investments, rights to
or on moveable First paripassu charge on all the Company present and future movable
plant, machinery, vehicles and equipments belonging to the Company which now
are, Second Paripassu charge on all the Company present and future movable
plant, machinery, vehicles and equipments belonging to the Company Land and building and construction thereof situated at : Survey No. 45/10,
Khata No. 640, Dehari Village, Umbergaon, District Valsad, Gujarat. |
FIXED ASSETS
- Land
- Building
- Plant and Machinery
- Furniture and Fixture
- Vehicles
- Office Equipment
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.53.32 |
|
|
1 |
Rs.84.60 |
|
Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
53 |
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.