|
Report Date : |
18.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
APPLICOMP ( |
|
|
|
|
Registered
Office : |
Gangapur Gin Compound Station Road, Ahmednagar – 414001, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.07.2011 |
|
|
|
|
Date of
Incorporation : |
31.12.1996 |
|
|
|
|
Com. Reg. No.: |
25-104800 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1382.928 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
u29302PN1996pLc104800 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
muma14916G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCA9547R |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of Refrigerator, Washing Machine and
Television. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 8180000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The
liquidity of the company appears to be insufficient. Even though, the company has achieved an increase in its sales during
2011, the profitability appears to be low. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow. 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) |
|
|
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
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Short term loan : A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
October 2011 |
|
Rating Agency Name |
CARE |
|
Rating |
Long term loan : BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
October 2011 |
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 : |
Gangapur Gin Compound Station Road, Ahmednagar – 414001, Maharashtra,
India |
|
Tel. No.: |
91-241-2358427 / 2355121 |
|
Fax No.: |
91-241-2824775 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Survey No 6-11, Krishnasagara Village, Anekal Taluk, Attibele, Hosur
Road, Bangalore – 562107, Karnataka, India |
|
Tel. No.: |
91-80-27821845 / 27820890 / 27820891 / 27820892 |
|
Fax No.: |
91-80-27821154 |
DIRECTORS
AS ON 30.01.2012
|
Name : |
Mr. Sharadkumar Bansilal Pallod |
|
Designation : |
Director |
|
Address : |
Ashish Bunglow, Station Road, Gangapur Gin Compound, Ahmednagar –
414001, Maharashtra, India |
|
Date of Birth/Age : |
23.10.1944 |
|
Qualification : |
Law Graduate |
|
Date of Appointment : |
31.12.1996 |
|
DIN No.: |
01799051 |
|
|
|
|
Name : |
Ms. Sheetal Kumar Dak |
|
Designation : |
Director |
|
Address : |
3 Vinayak Apartment, New Osmanpura, Near Sant Eknath Rang Mandir,
Aurangabad – 431005, Maharashtra, India |
|
Date of Birth/Age : |
18.10.1962 |
|
Date of Appointment : |
30.01.2012 |
|
DIN No.: |
00017579 |
|
|
|
|
Name : |
Mr. Yatinder Vir Singh |
|
Designation : |
Additional Director |
|
Address : |
2104/B-II, Vasant Kunj, New Delhi – 110070, India |
|
Date of Birth/Age : |
16.08.1962 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
30.01.2012 |
|
DIN No.: |
02223708 |
KEY EXECUTIVES
|
Name : |
Ms. Sonal Bhandari |
|
Designation : |
Secretary |
|
Address : |
C-7, Rajhans Residency, |
|
Date of Birth/Age : |
16.02.1986 |
|
Date of Appointment : |
01.08.2009 |
|
PAN No.: |
ANIPB4203H |
|
|
|
|
Name : |
Mr. Sasidhar Babu J. |
|
Designation : |
General Manager (w.e.f. May 2011) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.01.2012
|
Names of Shareholders |
No. of Shares |
Percentage of
Shares |
|
Videocon Industries Limited, |
17023500 |
12.31 |
|
Value Industries Limited, |
9712000 |
7.02 |
|
Kail Limited, |
1683000 |
1.22 |
|
Dome-Bell Electronics India Private Limited, |
18258000 |
13.20 |
|
Indian Refrigerator Company Limited, |
1683000 |
1.22 |
|
Tekcare India Private Limited, |
10098000 |
7.30 |
|
Shree Dhoot Trading and Agencies Limited, |
20098000 |
14.53 |
|
Partecipazioni Italiane SPA, |
59737337 |
43.20 |
|
Total |
138292837 |
100.00 |
AS ON 30.01.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
43.20 |
|
Bodies
corporate |
|
56.80 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Refrigerator, Washing Machine and
Television. |
||||||||
|
|
|
||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
Ø Andhra Bank, 16th
Floor, Earnest House, NCPA Marg, Nariman Point, Mumbai – 400021, Maharashtra,
India Ø Vijaya bank,
Industrial Finance Branch, 2nd Floor, New Excelsior Building,
Wallace Street, Fort, Mumbai – 400001, Maharashtra, India Ø UCO Bank,
Flagship Corporate Branch, 1st Floor, Mafatlal Centre, Nariman
Point, Mumbai – 400021, Maharashtra, India Ø United Bank of
India, Corporate Finance Branch, United Bank of India Building, 2nd
Floor, 25 Sir P. M. Road, Fort, Mumbai – 400001, Maharashtra, India Ø Central Bank of
India, Industrial Finance Branch, Chandermukhi, Ground Floor, Nariman Point,
Mumbai – 400021, Maharashtra, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kadam and Company Chartered Accountants |
|
Address : |
"Vedant", 8/9 Viraj Estate, Opposite Tarakpur Bus Stand, Ahmednagar
– 414003, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAIFK3708R |
CAPITAL STRUCTURE
AS ON 31.07.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
138,292,837 |
Equity Shares |
Rs.10/- each |
Rs. 1382.928
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.07.2011 |
31.07.2010 |
31.07.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1382.928 |
1382.928 |
1382.928 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
662.360 |
648.173 |
579.057 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2045.288 |
2031.101 |
1961.985 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
7999.827 |
3292.359 |
4354.313 |
|
|
2] Unsecured Loans |
1000.000 |
2499.981 |
1000.000 |
|
|
TOTAL BORROWING |
8999.827 |
5792.340 |
5354.313 |
|
|
DEFERRED TAX LIABILITIES |
113.593 |
109.968 |
69.016 |
|
|
|
|
|
|
|
|
TOTAL |
11158.708 |
7933.409 |
7385.314 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
6311.018 |
5429.626 |
4673.611 |
|
|
Capital work-in-progress |
1055.711 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
577.150 |
567.983 |
487.330 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2326.692
|
2215.011
|
2100.234
|
|
|
Sundry Debtors |
1991.448
|
1800.031
|
1679.177
|
|
|
Cash & Bank Balances |
74.407
|
74.761
|
78.269
|
|
|
Other Current Assets |
6.115
|
3.475
|
2.058
|
|
|
Loans & Advances |
779.300
|
109.134
|
154.744
|
|
Total
Current Assets |
5177.962
|
4202.412
|
4014.482
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1530.762
|
1949.445
|
1711.275
|
|
|
Other Current Liabilities |
403.404
|
283.497
|
53.824
|
|
|
Provisions |
28.967
|
33.670
|
25.010
|
|
Total
Current Liabilities |
1963.133
|
2266.612
|
1790.109
|
|
|
Net Current Assets |
3214.829
|
1935.800
|
2224.373
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
11158.708 |
7933.409 |
7385.314 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.07.2011 |
31.07.2010 |
31.07.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
9571.377 |
8501.160 |
7448.339 |
|
|
|
Other Income |
7.054 |
15.005 |
8.433 |
|
|
|
TOTAL (A) |
9578.431 |
8516.165 |
7456.772 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
8204.814 |
7225.298 |
6185.865 |
|
|
|
Manufacturing service costs |
35.601 |
48.106 |
384.266 |
|
|
|
Employee related expenses |
81.611 |
81.103 |
80.828 |
|
|
|
Administrative selling other expenses |
359.327 |
333.903 |
0.000 |
|
|
|
TOTAL (B) |
8681.353 |
7688.410 |
6650.959 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
897.078 |
827.755 |
805.813 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
357.905 |
300.961 |
253.474 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
539.173 |
526.794 |
552.339 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
528.430 |
434.303 |
477.452 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
10.743 |
92.491 |
74.887 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(3.444) |
23.375 |
25.998 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
14.187 |
69.116 |
48.889 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
648.173 |
579.057 |
526.591 |
|
|
|
|
|
|
|
|
|
Add |
EXCESS PROVISION
OF INCOME TAX FOR EARLIER YEARS W/BACK |
0.000 |
0.000 |
3.577 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
662.360 |
648.173 |
579.057 |
|
|
|
|
|
|
|
|
|
|
CIF VALUE OF
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
178.225 |
163.344 |
496.421 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.10 |
0.50 |
0.38 |
|
KEY RATIOS
|
PARTICULARS |
|
31.07.2011 |
31.07.2010 |
31.07.2009 |
|
PAT / Total Income |
(%) |
0.15 |
0.81 |
0.66 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.11 |
1.09 |
1.01 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.09 |
0.96 |
0.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.05 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
4.40 |
2.85 |
2.73 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.64 |
1.85 |
2.24 |
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 |
No |
|
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 |
Yes |
UNSECURED LOANS
|
Unsecured Loans |
31.07.2011 |
31.07.2010 |
|
|
(Rs. In Millions) |
|
|
Other debt unsecured |
1000.000 |
2499.981 |
|
Total |
1000.000 |
2499.981 |
OPERATIONS AND
FINANCIAL RESULTS:
During the year,
the Net Sales of the Company have shown a remarkable increased of Rs. 1070.200 Millions,
from Rs. 8501.200 Millions to Rs. 9571.400 Millions, representing a growth of
12.59%.The Total Expenditure amounted to Rs. 9567.700 Millions as against Rs.
8423.700 Millions for the previous year, representing an increase of Rs.
1144.000 Millions. However, the Net Profit of the Company has declined from Rs.
51.500 Millions to Rs. 7.100 Millions, due to loss on exchange fluctuation and
increase in depreciation.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U29302PN1996PLC104800 |
|
Name of the
company |
APPLICOMP (INDIA)
LIMITED |
|
Address of the
registered office or of the principal place of business in |
Gangapur Gin
Compound Station Road, Ahmednagar - 414001, Maharashtra, India Email ID: info@applicomp.in
|
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Movable Property Others (Current
Assets) |
|
Particular of
charge holder |
Andhra Bank, 16th
Floor, Earnest House, NCPA Marg, Nariman Point, Mumbai – 400021, Maharashtra, India Email ID: bmmum1128@andhrabank.co.in
|
|
Nature of
description of the instrument creating or modifying the charge |
Deed of Hypothecation
dated August 06, 2012 executed by Applicomp (India) Limited (the Company) in
favour of Andhra Bank (the Bank). |
|
Date of
instrument Creating the charge |
06.08.2012 |
|
Amount secured by
the charge |
1500.000 Millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest The rate of
interest shall be floating linked to SBI Base Rate + spread of 4.00% for the
entire tenor of the loan. Terms of Repayment 6 months from the
date of first disbursement. Margin NIL Extent and Operation of the charge The subservient
charge operates as inter alia, security for the due repayment, redemption and
discharge by the Company of the term loan facility of Rs. 1500.000 Millions
availed jointly by the Company from the Bank together with all interest,
additional interest, default interest, and any other amounts, fees, costs,
charges, expenses and other monies due and payable to the Lender under the
Facility Agreement. Others As may be agreed
to between the Company and the Bank from time to time. |
|
Short particulars
of the property charged |
Subservient
charge by way of hypothecation of the Company’s entire movables, including movable
machinery, machinery spares, tools and accessories, furniture and fixtures,
vehicles and all other movable
assets including stock of raw materials, consumable stores etc. present and
future and on the current assets both present and future, more specifically
of the Deed of Hypothecation. |
contingent liabilities:
(Rs. in millions)
|
Particulars |
31.07.2011 |
31.07.2010 |
|
a) Letter of Guarantees |
149.688 |
183.747 |
|
b) Letters of Credit opened |
143.504 |
143.293 |
|
c) Customs Duty demands under dispute |
369.808 |
369.808 |
|
d) Excise Duty demands under dispute |
13.750 |
13.769 |
|
e) Service Tax demands under dispute |
7.034 |
7.034 |
Fixed Assets
Tangible Assets
· Land
· Buildings
· Plant and Machinery
· Electrical Installation
· Computers
· Furniture and Fixtures
· Office Equipments
·
Vehicles
Intangible Assets
· Computer Software
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. 53.99 |
|
|
1 |
Rs. 83.72 |
|
Euro |
1 |
Rs. 72.09 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
34 |
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.