|
Report Date : |
28.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
GENERAL OPTICS (ASIA) LIMITED |
|
|
|
|
Registered
Office : |
R.S.84/1, Nallavadu Road, Thavalakuppam, Pondicherry – 605007 |
|
|
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|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
08.10.1982 |
|
|
|
|
Com. Reg. No.: |
59-000203 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.13.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U33201PY1982PLC000203 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers of
Instrument Assembling, Precision Optical Components and Mounted Optical
Components. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1600000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a well established and reputed company having a good track
record. Financially company seems to be strong. Fundamental seems to be
healthy. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitment. The company can be considered for normal business dealings at usual
trade terms and condition. |
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
LONG TERM RATING : CARE A- |
|
Rating Explanation |
Having adequate degree of safety regarding timely servicing of
financial obligation it carry low credit risk |
|
Date |
February, 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Arulmozhi |
|
Designation : |
Finance Head |
|
Contact No.: |
91-413-2619001 |
|
Date : |
14.02.2013 |
LOCATIONS
|
Registered Office / Factory : |
R.S.84/1, Nallavadu Road, Thavalakuppam, Pondicherry – 605007, India |
|
Tel. No.: |
91-413-2619001 |
|
Fax No.: |
91-413-2618755 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.06.2012
|
Name : |
Mr. Murali Srinivasagopalan |
|
Designation : |
Managing Director |
|
Address : |
No.5, First Cross Jayanagar, Pondicherry-605010, |
|
Date of Birth/Age : |
02.06.1953 |
|
Date of Appointment : |
08.10.1982 |
|
DIN No.: |
00207907 |
|
|
|
|
Name : |
Mr. Vaidyanathan Ramamurthy |
|
Designation : |
Director |
|
Address : |
Prof. Finance IIM, |
|
Date of Birth/Age : |
21.12.1951 |
|
Date of Appointment : |
30.09.1987 |
|
DIN No.: |
00221577 |
|
|
|
|
Name : |
Mr. Shankarlal Abhaya Kumar |
|
Designation : |
Director |
|
Address : |
27, Maylairanganathan Street, T. Nagar, Chennai – 600017, Tamilnadu,
India |
|
Date of Birth/Age : |
23.12.1953 |
|
Date of Appointment : |
28.11.2005 |
|
DIN No.: |
00729827 |
|
|
|
|
Name : |
Mr. Nagalakshmi Murali Venkataraman |
|
Designation : |
Whole Time Director |
|
Address : |
No.5, First Cross Jayanagar, Pondicherry-605010, |
|
Date of Birth/Age : |
30.01.1955 |
|
Date of Appointment : |
01.09.2008 |
|
DIN No.: |
02316308 |
|
|
|
|
Name : |
Mr. Narasimhan Jayaraman |
|
Designation : |
Whole Time Director |
|
Address : |
1, 31st Cross, 4th |
|
Date of Birth/Age : |
06.06.1947 |
|
Date of Appointment : |
29.08.2008 |
|
DIN No.: |
02274068 |
|
Brief : |
Mr. J.Narasimhan, is a B.E. (Hons.) and M.Tech. Mechanical engineering with specialization in Machine Tools and Production Engineering from I.I.T. Madras. Mr. Narasimhan joined the management team of General Optics ( Asia ) Limited in the year 1983 and super annuated on 31.10.08. During his 25 years of service with the company Mr. Narasimhan has contributed immensely to the technological growth of the company. During this period the company has grown from a component manufacturer to manufacturer of various Opto Mechanical, Opto Electronic Instrument assemblies and sub assemblies catering to the industries in the fields of Medical, Space, Metrology, Defence etc. Mr. Narasimhan has also under gone Technical training in the
required fields at their customers and equipment suppliers premises and has
imparted the knowledge gained to other employees of the company as required. |
KEY EXECUTIVES
|
Name : |
Mr. Arulmozhi Thangam |
|
Designation : |
Secretary |
|
Address : |
2B, Jaidev Apartments, 16th, A, Cross, Avvainagar,
Pondicherry-605008, |
|
Date of Birth/Age : |
16.09.1953 |
|
Date of Appointment : |
15.07.1983 |
|
PAN No.: |
ABYPA9426D |
|
|
|
|
Name : |
Mr. Arulmozhi |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2012
SHAREHOLDING
DETAILS FILE ATTACHED
As on 30.06.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
93.00 |
|
Other top fifty shareholders |
7.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of
Instrument Assembling, Precision Optical Components and Mounted Optical
Components. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
|
Precision Optical Components, Instrument Assembles / Sub Assemblies |
Nos |
1000000 |
200000 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
· Indian Bank, 26, Ethiraj Salai, Chennai – 600 008, Tamil Nadu, India · Indian Bank, Main Branch, Puducherry, India · Royal Bank of Scotland, Harrington Road, Chennai, India. · CITI Bank N.A., Rue Bussy, Pondicherry, India. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Ganesan and Company Chartered Accountant |
|
Address : |
23, |
|
PAN.: |
AAAFG4385N |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs. 40.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1350000 |
Equity Shares |
Rs.10/- each |
Rs. 13.500
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 |
13.500 |
13.500 |
13.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
391.636 |
428.669 |
227.064 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
405.136 |
442.169 |
240.564 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
39.368 |
|
|
2] Unsecured Loans |
0.000 |
0.070 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.070 |
39.368 |
|
|
DEFERRED TAX LIABILITIES |
14.040 |
15.927 |
18.072 |
|
|
|
|
|
|
|
|
TOTAL |
419.176 |
458.166 |
298.004 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
295.761 |
310.239 |
139.577 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.002 |
0.002 |
0.002 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
18.527
|
21.745
|
31.713
|
|
|
Sundry Debtors |
9.130
|
24.720
|
11.311
|
|
|
Cash & Bank Balances |
213.266
|
260.304
|
252.700
|
|
|
Other Non-Current Assets |
0.730
|
0.539
|
|
|
|
Other Current Assets |
0.272
|
0.272
|
0.000
|
|
|
Loans & Advances |
2.296
|
1.704
|
36.880
|
|
Total
Current Assets |
244.221
|
309.284
|
332.604 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
4.995
|
9.073
|
17.760
|
|
|
Other Current Liabilities |
37.625
|
119.873
|
102.888
|
|
|
Provisions |
78.188
|
32.413
|
53.531
|
|
Total
Current Liabilities |
120.808
|
161.359
|
174.179 |
|
|
Net Current Assets |
123.413
|
147.925
|
158.425
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
419.176 |
458.166 |
298.004 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
178.208 |
173.123 |
122.594 |
|
|
|
Other Income |
26.413 |
19.596 |
19.086 |
|
|
|
TOTAL (A) |
204.621 |
192.719 |
141.680 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
27.083 |
42.686 |
28.399 |
|
|
|
Changes in inventories of finished goods, work-in-progress and Stock-in-Trade |
4.744 |
0.422 |
(9.146) |
|
|
|
Employee benefit expense / Personal |
35.648 |
38.594 |
31.359 |
|
|
|
Other expenses |
43.827 |
45.124 |
36.125 |
|
|
|
TOTAL (B) |
111.302 |
126.826 |
86.737 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
93.319 |
65.893 |
54.943 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.526 |
3.101 |
2.218 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
90.793 |
62.792 |
52.725 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
12.867 |
12.198 |
10.036 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
77.926 |
50.594 |
42.689 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
25.658 |
8.917 |
10.006 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
52.268 |
41.677 |
32.683 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
189.473 |
168.631 |
148.119 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
7.971 |
5.093 |
4.300 |
|
|
|
Interim Dividend Disbursed |
54.000 |
0.000 |
0.000 |
|
|
|
Tax on Interim Dividend |
8.760 |
0.000 |
0.000 |
|
|
|
Dividend |
13.500 |
13.500 |
6.750 |
|
|
|
Tax on Dividend |
2.190 |
2.242 |
1.121 |
|
|
BALANCE CARRIED
TO THE B/S |
155.320 |
189.473 |
168.631 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
32.077 |
65.188 |
76.289 |
|
|
TOTAL EARNINGS |
32.077 |
65.188 |
76.289 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
12.340 |
15.345 |
12.150 |
|
|
|
Stores & Spares |
10.463 |
11.247 |
18.887 |
|
|
|
Plant and Machinery |
1.071 |
0.393 |
21.241 |
|
|
TOTAL IMPORTS |
23.874 |
26.985 |
52.278 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
38.72 |
30.87 |
24.21 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
25.54
|
21.62
|
23.07
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
43.73
|
29.22
|
34.82
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.43
|
8.17
|
9.04
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.11
|
0.18
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00
|
0.16
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.02
|
1.92
|
1.91
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
In Millions)
|
Particulars
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
Trade Creditors |
4.995 |
9.073 |
17.760 |
|
Total |
4.995 |
9.073 |
17.760 |
|
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
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 |
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 |
DETAILS OF UNSECURED
(Rs. In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
|
LOANS
REPAYABLE ON DEMAND |
|
|
|
- Book Overdraft Bank Balance |
0.000 |
0.070 |
|
Total |
0.000 |
0.070 |
FINANCIAL RESULTS
The year 2012 – 13 commenced with an Order Book of
Rs.160.600 Millions. Additional orders worth approximately Rs.50.000 Millions
to Rs.70.000 Millions are under different stages of negotiation. They will be
executing most of the orders on hand, during the year 2012-2013.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U33201PY1982PLC000203 |
|
Name of the
company |
GENERAL OPTICS
(ASIA) LIMITED |
|
Address of the registered
office or of the principal place of
business in |
R.S.84/1, Nallavadu Road, Thavalakuppam, Pondicherry – 605007, India Email: corp@goalpdy.com |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
90006009 |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
Indian Bank, 26, Ethiraj Salai, Chennai – 600 008, Tamilnadu, India |
|
Nature of
instrument creating charge |
Form D 33 Letter
From Party To Bank For Extension of Equitable Mortgage for a Charge Amount of
Rs.210.000 Millions (Rs.180.000 Millions BG Limit +Rs.30.000 Millions LC
Limit) |
|
Date of
instrument Creating the charge |
23.02.2012 |
|
Amount secured by
the charge |
Rs. 210.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Not Applicable Terms of
Repayment Not Applicable Margin Not Applicable Extent and
Operation of the charge Equitable
mortgage by deposit of title deeds of the company property situated at R.S.
No 84/1, Nallavadu Road, Thavalakuppam, Pondicherry-605007, as security for
the facilities granted and to be granted by Indian Bank to them. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Wet land bearing R.S.84,
Cadaster No.1474 having an extent of one kani and four kuzhis and three
veesams. |
|
Date of
instrument modifying the charge |
21.12.2010 |
|
Particulars of
the present modification |
The charge amount
has been reduced from Rs.215.600 Millions to 210.000 Millions. |
FIXED ASSETS
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.53.84 |
|
|
1 |
Rs.81.24 |
|
Euro |
1 |
Rs.70.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
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 |
6 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.