MIRA
INFORM REPORT
|
Report Date : |
15.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
EMMVEE SOLAR SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Solar Tower, 55, 6th Main, 11th Cross Lakshmaiah
Block, Ganganagar, Bangalore-560024, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
25.09.1996 |
|
|
|
|
Com. Reg. No.: |
08-021190 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 95.400 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85110KA1996PTC021190 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Seller of solar water heater systems |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1400000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The profitability of the company appears to be low. However, trade relations are reported as fair. Business is active.
Payments terms are slow but correct. 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 |
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 |
BB+ (Long Term Rating) |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
February 2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
A4+ (Short Term Rating) |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
February 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 / Corporate Office : |
Solar Tower, 55, 6th Main, 11th Cross Lakshmaiah
Block, Ganganagar, Bangalore-560024, Karnataka, India |
|
Tel. No.: |
91-80-43233333 |
|
Fax No.: |
91-80-23332060 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Survey No.66-70/3, Pemmanahalli Village, Sompura Hobili, Dobaspet, Nelamangala,
Bangalore-562111, Karnataka, India |
|
Tel. No.: |
91-80-43233411 |
|
|
|
|
Branch / Representatives Office : |
Located At ·
Bangalore ·
Mysore ·
New Delhi ·
Kolkata ·
Pune |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Dhonti Venkatrathnaiah Manjunatha |
|
Designation : |
Managing Director |
|
Address : |
8/22, Shubha Nilaya, 5 Main, 10 Cross, HHG Block, Ganganagar,
Bangalore-560032, Karnataka, India |
|
Date of Birth/Age : |
08.08.1967 |
|
Date of Appointment : |
01.04.1997 |
|
PAN No.: |
ABQPM7504G |
|
DIN No.: |
00249495 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U85110KA1996PTC021190 |
EMMVEE
SOLAR SYSTEMS PRIVATE LIMITED |
Managing
director |
01/04/1997 |
01/04/1997 |
Active |
NO |
|
2 |
U26101KA2007PTC042197 |
EMMVEE
PHOTOVOLTAIC POWER PRIVATE LIMITED |
Managing
director |
26/03/2007 |
26/03/2007 |
Active |
NO |
|
3 |
U31506KA2008PTC046011 |
EMMVEE
ENERGY PRIVATE LIMITED |
Director |
10/04/2008 |
10/04/2008 |
Active |
NO |
|
4 |
U26100KA2010PTC053034 |
EMMVEE
TOUGHENED GLASS PRIVATE LIMITED |
Director |
29/03/2010 |
29/03/2010 |
Active |
NO |
|
Name : |
Mr. Srinath Thippegowda |
|
Designation : |
Director |
|
Address : |
1701, 17 Cross M C Layout, Vijayanagar, Bangalore-560040, Karnataka,
India |
|
Date of Birth/Age : |
13.04.1964 |
|
Date of Appointment : |
10.05.2007 |
|
PAN No.: |
ACRPT9887F |
|
DIN No.: |
01508121 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U85110KA1996PTC021190 |
EMMVEE
SOLAR SYSTEMS PRIVATE LIMITED |
Director |
10/05/2007 |
10/05/2007 |
Active |
NO |
|
2 |
U26101KA2007PTC042197 |
EMMVEE
PHOTOVOLTAIC POWER PRIVATE LIMITED |
Whole-time
director |
27/09/2010 |
04/04/2008 |
Active |
NO |
|
Name : |
Mr. Claus Harald Michelsen |
|
Designation : |
Director |
|
Address : |
Karen Blixens VEJ, 312960, DK-2900, Runsstd, Hellerup, Denmark |
|
Date of Birth/Age : |
29.03.1961 |
|
Date of Appointment : |
20.11.2007 |
|
DIN No.: |
01886265 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U85110KA1996PTC021190 |
EMMVEE
SOLAR SYSTEMS PRIVATE LIMITED |
Director |
08/07/2008 |
20/11/2007 |
Active |
NO |
|
Name : |
Mr. Torben Sorensen |
|
Designation : |
Director |
|
Address : |
Klostervj 808680, R Y, Denmark |
|
Date of Birth/Age : |
12.08.1961 |
|
Date of Appointment : |
12.05.2010 |
|
DIN No.: |
03063918 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U85110KA1996PTC021190 |
EMMVEE
SOLAR SYSTEMS PRIVATE LIMITED |
Director |
27/07/2010 |
12/05/2010 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Manjunath Ullur Hattikuduru |
|
Designation : |
Secretary |
|
Address : |
435, 8 Cross, 9 Main, 3 Block, HMT Layout, Vidyaranyapura,
Bangalore-5860097, Karnataka, India |
|
Date of Birth/Age : |
08.02.1970 |
|
Date of Appointment : |
16.11.2001 |
|
PAN No.: |
AAIPU3490N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
No. of Shares |
|
Dhonti Venkatrathnaiah Manjunatha |
2385000 |
|
Shubha Manjunatha |
2385000 |
|
Solar Cap A/S, Denmark |
4770000 |
|
TOTAL
|
9540000 |
AS ON 29.11.2012
|
Names of Allottees |
No. of Shares |
|
Dhonti Venkatrathnaiah Manjunatha |
125000 |
|
Shubha Manjunatha |
125000 |
|
Solar Cap A/S, Denmark |
250000 |
|
TOTAL
|
500000 |
AS ON 28.09.2012
|
Equity Shares
Break Up |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
50.00 |
|
Directors or relatives of Directors |
50.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Seller of solar water heater systems |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
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|
||||||||||||||||||
|
Bankers : |
·
State Bank of India, Specialized MID Corporate Branch,
No.97, Railway Parallel Road, Kumarapark West, Bangalore-560020, Karnataka,
India ·
ING Vysya Bank Limited, G-2 No.19, 2nd
Main Road, Lower Palace Orchards, Sankey Road, Sadashivnagar,
Bangalore-560003, Karnataka, India |
||||||||||||||||||
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Facilities : |
|
||||||||||||||||||
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B S R and Company Chartered Accountant |
|
Address : |
Bangalore, Karnataka, India |
|
PAN No.: |
AAAFB9852F |
|
|
|
|
Related Parties : |
·
Emmvee Photovoltaic Power Private Limited ·
Arcon Solar AS, Denmark ·
General Solar Systems Gmbh, Austria ·
Sonenkraft Italia, Italy |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs. 200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9540000 |
Equity Shares |
Rs.10/- each |
Rs. 95.400
Millions |
|
|
|
|
|
AS ON 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs. 200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital : Rs. 105.400 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 |
95.400 |
95.400 |
89.400 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
279.225 |
275.154 |
231.422 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
374.625 |
370.554 |
320.822 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
390.150 |
438.744 |
610.310 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
390.150 |
438.744 |
610.310 |
|
|
DEFERRED TAX LIABILITIES |
13.590 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
778.365 |
809.298 |
931.132 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
653.804 |
606.970 |
600.079 |
|
|
Capital work-in-progress |
3.351 |
59.236 |
27.453 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.001 |
0.001 |
0.001 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
66.383
|
65.573 |
48.704 |
|
|
Sundry Debtors |
213.335
|
172.551 |
183.199 |
|
|
Cash & Bank Balances |
19.893
|
54.605 |
163.438 |
|
|
Other Current Assets |
10.935
|
30.546 |
0.000 |
|
|
Loans & Advances |
53.667
|
36.552 |
34.719 |
|
Total
Current Assets |
364.213
|
359.827 |
430.060 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
96.707
|
53.013 |
|
|
|
Other Current Liabilities |
140.698
|
159.099 |
120.741 |
|
|
Provisions |
5.599
|
4.624 |
5.720 |
|
Total
Current Liabilities |
243.004
|
216.736 |
126.461 |
|
|
Net Current Assets |
121.209
|
143.091 |
303.599 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
778.365 |
809.298 |
931.132 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
674.150 |
432.510 |
448.580 |
|
|
|
Other Income |
9.800 |
18.310 |
24.670 |
|
|
|
TOTAL |
683.950 |
450.820 |
473.250 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
666.290 |
461.030 |
445.580 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
17.660 |
(10.210) |
27.670 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
13.590 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
4.070 |
(10.210) |
27.670 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
7.160 |
0.140 |
NA
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.43 |
(1.12) |
3.51 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.60
|
(2.26) |
5.85 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.62
|
(2.36) |
6.17 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.73
|
1.06 |
2.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.03 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.04
|
1.18 |
1.90 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.50
|
1.66 |
3.40 |
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) |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
BACKGROUND
Subject was
incorporated on 25 September 1996, as a Private Limited Company under the
Companies Act, 1956 (‘the Act’). The Company is jointly owned by SolarCap AS,
Denmark, Mrs. Shubha Manjunatha Dhonti and Mr. Manjunatha Dhonti
Venkatarathnaiah. The Company manufactures and sells solar water heater
systems.
TURNOVER AND PROFITS
The turnover
achieved for the year 2011-12 stood at Rs. 674.150 million compared to Rs.432.510
million, an increase of 56% over the previous year. The increase in turnover
was due to introduction of Jawaharlal Nehru National Solar Mission subsidy
scheme. Total income after tax stood at Rs.4.070 million compared to Rs.
(10.210) million during the previous year.
EXPANSION AND
FUTURE PLANS
The current
installed capacity of the plant has increased to 300 tanks per day and 0.3
millions Square Meter Collectors area per annum. The future plan of the Company
is to produce single sheet aluminum absorber based solar water heating system.
Production will start from December 2012.
FIXED ASSETS
·
Building
·
Plant and Machinery
·
Computer Software
·
Furniture and Fixtures
·
Vehicles
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. 53.87 |
|
|
1 |
Rs. 83.58 |
|
Euro |
1 |
Rs. 72.37 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
32 |
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.