MIRA
INFORM REPORT
|
Report Date : |
21.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
TECHNOVINYL POLYMERS INDIA LIMITED |
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Registered
Office : |
30, Unique Industrial Estate, Dr. R. P. Road, Mulund (West), Mumbai – 400080, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
19.06.1992 |
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Com. Reg. No.: |
11-067303 |
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Capital
Investment / Paid-up Capital : |
Rs. 40.000 Millions |
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CIN No.: [Company Identification
No.] |
U25209MH1992PLC067303 |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Hi Performance P.V.C. Compounds and Speciality
Polymers |
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|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 450000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record.
Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. 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.
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 |
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.
INFORMATION DECLINED BY
Management Non Co-operative (91-22-25930940)
LOCATIONS
|
Registered Office : |
30, Unique Industrial Estate, Dr. R. P. Road, Mulund
(West), Mumbai – 400080, Maharashtra, India |
|
Tel. No.: |
91-22 25930940 / 25930944 |
|
Fax No.: |
91-22-25642577 |
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E-Mail : |
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Website : |
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Admn Office : |
F-57, Sai Dham Arcade, Near St. Marry's School, Near Saidham Society, PK Road, Mulund West, Mumbai - 400 080, Maharashtra, India |
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Tel. No.: |
91-22-25930936/39/40/41 |
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E-Mail : |
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Factory : |
Plot No. 83, Government Industrial Estate, Village Masat,
Silvassa – 396230, Dadra and Nagar Haveli |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Kirit Gokaldas Chandan |
|
Designation : |
Managing Director |
|
Address : |
603/604, Mount View Co-operative HSG Society, Off Devidayar Road,
Mulund (West), Mumbai – 400080, Maharashtra, India |
|
Date of Birth/Age : |
13.01.1960 |
|
Date of Appointment : |
19.06.1992 |
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DIN No.: |
00536173 |
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|
|
|
Name : |
Miss. Priti Gokaldas Chandan |
|
Designation : |
Director |
|
Address : |
603/604, Mount View Co-operative HSG Society, Off Devidayar Road,
Mulund (West), Mumbai – 400080, Maharashtra, India |
|
Date of Birth/Age : |
06.01.1964 |
|
Date of Appointment : |
19.06.1992 |
|
DIN No.: |
00535703 |
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|
|
|
Name : |
Mrs. Deviben Gokaldas Chandan |
|
Designation : |
Director |
|
Address : |
603/604, Mount View Co-operative HSG Society, Off Devidayar Road,
Mulund (West), Mumbai – 400080, Maharashtra, India |
|
Date of Birth/Age : |
20.06.1937 |
|
Date of Appointment : |
19.06.1992 |
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DIN No.: |
00535893 |
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|
|
|
Name : |
Mrs. Tejal Kirit Chandan |
|
Designation : |
Director |
|
Address : |
603/604, Mount View Co-operative HSG Society, Off Devidayar Road, Mulund
(West), Mumbai – 400080, Maharashtra, India
|
|
Date of Birth/Age : |
05.10.1967 |
|
Date of Appointment : |
19.06.1992 |
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DIN No.: |
00536290 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Chandan G. Kirit |
|
135010 |
|
Chandan G. Deviben |
|
154520 |
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Chandan K. Tejal |
|
61940 |
|
Preeti G. Chandan |
|
45010 |
|
Deepak P. Thakkar |
|
10 |
|
Lata D. Palan |
|
10 |
|
K.G. Chandan (HUF) |
|
3500 |
|
Total |
|
400000 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Hi Performance P.V.C. Compounds and Speciality
Polymers |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||||
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Bankers : |
Dena Bank, 11, Surya Prakash, M.G. Road, Mulund (West), Mumbai - 400080, Maharashtra, India. |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Dayal and Lohia Chartered Accountants |
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Address : |
Kamanwala Chambers, 1st Floor, Office Nos. 6 and 7, Sir P.M. Road, Fort, Mumbai – 400001, Maharashtra, India |
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Tel. No.: |
91-22-66372969-70 |
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Fax No.: |
91-22-66372949 |
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E-Mail : |
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PAN.: |
AAAFD1548C |
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|
Associates : |
·
Techno Frerites ·
Holm KK Extrusions Private Limited ·
K K Plastics |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400000 |
Equity Shares |
Rs.10/- each |
Rs.4.000
Millions |
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|
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|
Reconciliation of Shares Outstanding at the beginning and at the end of
the year
|
Particular |
Nos. |
Rs. In Millions |
|
At the beginning of the year |
400,000 |
4.000 |
|
Issued during the year |
-- |
-- |
|
Outstanding at the end of the year |
400,000 |
4.000 |
Details of Shareholders Holding More than 5% Shares in the company
|
Particular |
Nos. |
% |
|
Mr. Kirit Gokaldas Chandan |
135,010 |
33.75% |
|
Mrs. Deviben Gokaldas Chandan |
154,520 |
38.63% |
|
Mrs. Tejal Kirit Chandan |
61,940 |
15.49% |
|
Miss. Priti Gokaldas Chandan |
45,010 |
11.25% |
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 |
4.000 |
4.000 |
4.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
109.914 |
83.070 |
65.845 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
113.914 |
87.070 |
69.845 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
87.277 |
60.300 |
52.505 |
|
|
2] Unsecured Loans |
81.088 |
93.923 |
52.571 |
|
|
TOTAL BORROWING |
168.365 |
154.223 |
105.076 |
|
|
DEFERRED TAX LIABILITIES |
11.304 |
10.824 |
9.182 |
|
|
|
|
|
|
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|
TOTAL |
293.583 |
252.117 |
184.103 |
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|
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|
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APPLICATION OF FUNDS |
|
|
|
|
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|
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|
|
FIXED ASSETS [Net Block] |
97.941 |
103.074 |
98.102 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.848 |
1.848 |
1.848 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
Other Non-Current Assets |
1.881 |
1.758 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
145.602
|
110.413 |
70.395 |
|
|
Sundry Debtors |
83.375
|
66.157 |
26.711 |
|
|
Cash & Bank Balances |
2.588
|
2.038 |
2.779 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
9.603
|
10.060 |
15.758 |
|
Total
Current Assets |
241.168
|
188.668 |
115.643 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
40.571
|
37.303 |
23.339 |
|
|
Other Current Liabilities |
6.299
|
4.052 |
1.281 |
|
|
Provisions |
2.385
|
1.876 |
6.870 |
|
Total
Current Liabilities |
49.255
|
43.231 |
31.490 |
|
|
Net Current Assets |
191.913
|
145.437 |
84.153 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
293.583 |
252.117 |
184.103 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
422.037 |
333.662 |
191.840 |
|
|
|
Other Income |
0.693 |
1.592 |
0.958 |
|
|
|
TOTAL (A) |
422.730 |
335.254 |
192.798 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
307.836 |
256.235 |
|
|
|
|
Changes in Inventories of Finished goods |
(0.291) |
(7.993) |
165.294 |
|
|
|
Excise Duty |
1.577 |
0.000 |
|
|
|
|
Employee Benefit Expenses |
19.860 |
11.899 |
|
|
|
|
Other Expenses |
26.199 |
23.967 |
|
|
|
|
TOTAL (B) |
355.181 |
284.108 |
165.294 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
67.549 |
51.146 |
27.504 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
19.457 |
17.189 |
11.407 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
48.092 |
33.957 |
16.097 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.310 |
5.757 |
5.273 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
41.782 |
28.200 |
10.824 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
14.241 |
10.507 |
5.311 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
27.541 |
17.693 |
5.513 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
83.070 |
65.845 |
60.800 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
2.754 |
0.000 |
0.000 |
|
|
|
Dividend |
0.600 |
0.400 |
0.400 |
|
|
|
Tax on Dividend |
0.097 |
0.068 |
0.068 |
|
|
BALANCE CARRIED
TO THE B/S |
107.160 |
83.070 |
65.845 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
165.181 |
130.883 |
NA |
|
|
TOTAL IMPORTS |
165.181 |
130.883 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
68.85 |
44.23 |
13.78 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
6.52
|
5.28 |
2.86 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.90
|
8.45 |
5.64 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.32
|
9.67 |
5.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37
|
0.32 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.48
|
1.77 |
1.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.90
|
4.36 |
3.67 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
Rs.
In Millions
|
Particular |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Trade Payable |
40.571
|
37.303 |
23.339 |
|
Total |
40.571
|
37.303 |
23.339 |
|
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 |
No |
Note:
The registered office of the company has been shifted from
121, Solariesopp Larson and Toubro, Sarivihar Road, Powai, Mumbai – 400072,
Maharashtra, India to present address w.e.f. 01.04.2010
OPERATIONS
During the year Gross Income have increase
form Rs.368.179 Millions to Rs.457.730 Millions and company has made net Profit
after Tax Rs.27.541 Millions. Sales has been increased by 24%.
CONTINGENT LIABILITIES
Rs, In Millions
|
Particular |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
Bank Guarantee to the Electric Department |
1.675 |
1.675 |
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long Term Borrowings |
|
|
|
From Related Party |
77.050 |
87.124 |
|
Other Loans |
4.038 |
6.799 |
|
Total |
81.088 |
93.923 |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U25209MH1992PLC067303 |
|
Name of the
company |
TECHNOVINYL POLYMERS
INDIA LIMITED |
|
Address of the
registered office or of the principal place of business in |
30, Unique Industrial Estate, Dr. R. P. Road, Mulund (West), Mumbai – 400080, Maharashtra, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10247760 |
|
Type of charge |
· Book debts · Movable property (not being pledge) · Others (stocks) |
|
Particular of
charge holder |
Dena Bank, 11, Surya Prakash, M.G. Road, Mulund (West), Mumbai - 400080, Maharashtra, India. |
|
Nature of
instrument creating charge |
Supplemental hypothecation
agreement |
|
Date of
instrument Creating the charge |
11.05.2012 |
|
Amount secured by
the charge |
Rs.1.500 Millions
|
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As decided by bank
from time to time Terms of Repayment As decided by
bank from time to time Margin As decided by
bank from time to time Extent and Operation of the charge To secure the due
repayment of Forward Contract Limit of Rs.1.500 Millions, together with interest,
costs, charges and expenses thereon, granted by the Bank to the Company. Others Security created
in respect of Forward Contract Limit of Rs.1.500 Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
All present and future: (i) All stocks of raw materials such as PVC compounds, PVC Resins, DOP, K-120 ND, Luwax Powder, Stabilisers, HDP bag, etc., stock in process and finished goods such as polymers, consumable stores and spares, packing materials etc. (ii) All tangible, movable properties and assets including plant, machinery, tools and accessories, stores, spares etc. (iii) All book debts, outstanding, money, receivables, claims, bills, etc. and more particularly described in the Annexure hereto. |
|
Particulars of
the present modification |
By this
modification the Charge remains the same at Rs.1.500 Millions to secure
Forward Contract Limit. The modification is for the purpose of recording the
renewal document. Thus the charge stands at Rs.1.500 Millions. |
FIXED ASSETS
· Land
· Factory Building
· Plant and Machinery
· Computer
· Furniture and Fixture
· Office Equipment
· Vehicles
· OC Camera
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.54.05 |
|
|
1 |
Rs.83.45 |
|
Euro |
1 |
Rs.72.54 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
|
47 |
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.