MIRA
INFORM REPORT
|
Report Date : |
02.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
APPEX COTTON AGENCY (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
157, Jaora Compound, Indore – 452001, Madhya Pradesh |
|
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Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
02.04.1998 |
|
|
|
|
Com. Reg. No.: |
10-012741 |
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|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 4.049 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U52321MP1998PTC012741 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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|
Line of Business
: |
Trader of Raw Cotton and Yarn |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 50000 |
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|
|
Status : |
Satisfactory |
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|
|
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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 to be fair. Business is active. Payments are
reported to be usually correct and as per commitment. The company can be considered
for normal business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including industrial
deregulation, privatization of state-owned enterprises, and reduced controls on
foreign trade and investment, began in the early 1990s and has served to
accelerate the country's growth, which has averaged more than 7% per year since
1997. India's diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India's output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis - in large
part because of strong domestic demand - and growth exceeded 8% year-on-year in
real terms. However, India's economic growth in 2011 slowed because of persistently
high inflation and interest rates and little progress on economic reforms. High
international crude prices have exacerbated the government's fuel subsidy
expenditures contributing to a higher fiscal deficit, and a worsening current
account deficit. Little economic reform took place in 2011 largely due to
corruption scandals that have slowed legislative work. India's medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
Source
: CIA |
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 : |
157, Jaora Compound, Indore – 452001, Madhya Pradesh, India |
|
Tel. No.: |
91-731-4079352 / 399 |
|
Fax No.: |
Not Available |
|
E-Mail : |
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Website : |
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Branch Office : |
Town Center, Sector C, Plot No.11, CIDC, Aurangabad - 430015, Maharashtra, India |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Abhay Kumar Jain |
|
Designation : |
Director |
|
Address : |
157, Jaora Compound, Indore – 452001, Madhya Pradesh, India |
|
Date of Birth/Age : |
20.03.1963 |
|
Date of Appointment : |
02.04.1998 |
|
DIN No.: |
00778609 |
|
|
|
|
Name : |
Mr. Rajkumar Jain |
|
Designation : |
Director |
|
Address : |
157, Jaora Compound, Indore – 452001, Madhya Pradesh, India |
|
Date of Birth/Age : |
10.11.1968 |
|
Date of Appointment : |
02.04.1998 |
|
DIN No.: |
00778644 |
|
|
|
|
Name : |
Mr. Sanjay Kumar Jain |
|
Designation : |
Director |
|
Address : |
157, Jaora Compound, Indore – 452001, Madhya Pradesh, India |
|
Date of Birth/Age : |
07.16.1972 |
|
Date of Appointment : |
10.11.2001 |
|
DIN No.: |
00778630 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of
Shareholders |
|
No. of Shares |
|
Abhay Kumar Jain |
|
3700 |
|
Rachana Jain |
|
22000 |
|
Angoorbala Jain |
|
22000 |
|
Kudanmal Munal |
|
1000 |
|
Meena Munat |
|
1000 |
|
Pukhraj Pitala |
|
1000 |
|
Arun Bhandari |
|
1000 |
|
Antin Bala Bhandari |
|
1000 |
|
Vinay Kumar Jain |
|
1000 |
|
Basantilal Piiaia |
|
1000 |
|
Sharad Bhandari |
|
1000 |
|
Sunder Bhandari |
|
1000 |
|
Sanjay Jain |
|
2600 |
|
Raj Kumar Jain |
|
95600 |
|
Prabha Neema |
|
2000 |
|
Kedar Goyal |
|
2000 |
|
Sandeep Goyal |
|
2000 |
|
Satish Ora |
|
2000 |
|
Sanjay Ora |
|
2000 |
|
Dllip Ora |
|
2000 |
|
Rekha Ora |
|
2000 |
|
Sunderlal Patel |
|
2000 |
|
Vlajy Sisodiya |
|
2000 |
|
Anil Doshi |
|
2000 |
|
Raj Kumar Jain and Sons (HUF) |
|
50000 |
|
Abhay Kumar Jain and Sons (HUF) |
|
50000 |
|
Sanjay Kumar Jain and Sons (HUF) |
|
20000 |
|
Sunita Jain |
|
20000 |
|
Mukesh Bhandari |
|
30000 |
|
Jitendra Kumar Vyas |
|
30000 |
|
Suresh Kumar Jain |
|
30000 |
|
Total |
|
404900 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
87.82 |
|
Other top fifty shareholders |
12.18 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Raw Cotton and Yarn |
GENERAL INFORMATION
|
Suppliers : |
· Arihant Industries, sendhwa · TDB Spinning Mills · Dinesh Chandra Gopal Patidar Kukshi · VirendraKumar Shantilal, Badnagar · Nemichand Jawanmal Jani Bag · Patodi Cotton Ginning Fac. Loharda · P.R.P. Quality Cotton Industries, Kukshi · Rajesh Ginning Udyog Anjad · Rajlalit Jain and Bros. · Rishabh Cotton Processer Private Limited · Arpit Udyog Manawar · F.W. Team Mumbai · K.S. Cot Fibres Private Limited Sendhwa · Navin Ginning Company Sendhwa · P.D. SekSariya Tra Company Private Limited · Ruchi World Wide Limited · Satyam Spinners Private Limited Sendhwa · Sheetal Agencise Barwaha · Shreyansh Trading Company · Surana Tradin Company Khetiya · U.B. Cotton Private Limited Mumbai · Umeshkumar Sureshchand,Gandhwani · Yash Organics |
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Customers : |
· Gimar fibres Limited, Pithampur · Sachin Agro Industries Sendhwa · Appex Fibre Testing Lab Indore · Pratibha Syntex Private Limited (Pithampur) · Samkil Biofarms Private Limited · Biria Textiles Mills Baddi (Himachal Pradesh) · Chenab Textiles Mills Kathua (Jammu and Kashmir) · Gomli Trading Company · Herman Cottex and Seeds Private Limited · Jai Bajrang Gin and Pre Private Limited · Jai Deep Glass Wark Private Limited Pithampur · Jai Deep Glass Wark Private Limited Pithampur (B) · Khandelwal Gin and Pres. · K.V. Markou (Livadia-Greece) · Prem Prakash Gining and Pres. Bagod · Saket Ginning Indu. Anjad · Shree Vanketesh cotton Company · TDB Spinners Private Limited Pithampur |
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No. of Employees : |
Not Available |
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Bankers : |
·
Kotak Mahindra Bank Limited, 36-38 A, Nariman
Bhavan, 227 D, Nariman Point, Mumbai - 400021, Maharashtra, India ·
IDBI Bank ·
State Bank of Indore ·
Axis Bank |
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Facilities : |
(Rs.
In Millions)
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Banking Relations
: |
-- |
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Auditors : |
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|
Name : |
N. Parik and Associates Chartered Accountants |
|
Address : |
"Crystal" 19/6 New Palasia, Near Curewell Hospital, Indore – 452001,
Madhya Pradesh India |
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Tel. No.: |
91-731-4071193 |
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E-Mail : |
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Website : |
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PAN.: |
AAFFN5424L |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital : Rs.10.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.4.049 Millions
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
404900 |
Equity Shares |
Rs.10/- each |
Rs.4.049
Millions |
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|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
4.049 |
4.049 |
4.049 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
10.211 |
7.289 |
5.615 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
14.260 |
11.338 |
9.664 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2.630 |
0.542 |
1.169 |
|
|
2] Unsecured Loans |
0.500 |
0.500 |
0.500 |
|
|
TOTAL BORROWING |
3.130 |
1.042 |
1.669 |
|
|
DEFERRED TAX LIABILITIES |
0.156 |
0.147 |
0.130 |
|
|
|
|
|
|
|
|
TOTAL |
17.546 |
12.527 |
11.463 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3.895 |
3.623 |
4.203 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
8.208 |
1.062 |
|
|
Sundry Debtors |
34.176
|
20.133 |
13.634 |
|
|
Cash & Bank Balances |
0.618
|
2.624 |
1.244 |
|
|
Other Current Assets |
1.219
|
1.158 |
0.515 |
|
|
Loans & Advances |
29.650
|
8.018 |
8.188 |
|
Total
Current Assets |
65.663
|
40.141 |
24.643 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
34.474
|
25.980 |
9.842 |
|
|
Other Current Liabilities |
17.435
|
5.146 |
7.429 |
|
|
Provisions |
0.103
|
0.111 |
0.115 |
|
Total
Current Liabilities |
52.012
|
31.237 |
17.386 |
|
|
Net Current Assets |
13.651
|
8.904 |
7.257 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.003 |
|
|
|
|
|
|
|
|
TOTAL |
17.546 |
12.527 |
11.463 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
132.010 |
44.854 |
20.044 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
132.010 |
44.854 |
20.004 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
127.299 |
41.960 |
18.401 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
127.299 |
41.960 |
18.401 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
4.711 |
2.894 |
1.603 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.483 |
0.468 |
0.450 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
4.228 |
2.426 |
1.153 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.306 |
0.752 |
0.422 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2.922 |
1.674 |
0.731 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
7.289 |
5.615 |
4.884 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
10.211 |
7.289 |
5.615 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.21 |
4.13 |
NA |
|
%20PRIVATE%20LIMITED%20%20-%20205855%2002-Jan-2013_files/image001.gif){kind=small}
%20PRIVATE%20LIMITED%20%20-%20205855%2002-Jan-2013_files/image002.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.21
|
3.73 |
3.65 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.08
|
5.54 |
4.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30
|
0.21 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.87
|
2.85 |
1.97 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26
|
1.29 |
1.42 |
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 |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
- |
|
22] |
Litigations that the firm / promoter involved in |
- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
- |
|
26] |
Buyer visit details |
- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
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 |
No |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U52321MP1998PTC012741 |
|
Name of the
company |
APPEX COTTON AGENCY
(INDIA) PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
157, Jaora Compound, Indore – 452001, Madhya Pradesh, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10295418 |
|
Type of charge |
· Book debts · Movable property (not being pledge) · Others |
|
Particular of
charge holder |
Kotak Mahindra Bank Limited 36-38 A, Nariman Bhavan, 227,D, Nariman Point,, Mumbai - 400021, Maharashtra, India |
|
Nature of
instrument creating charge |
Deed of
Hypothecation. |
|
Date of
instrument Creating the charge |
22.06.2012 |
|
Amount secured by
the charge |
Rs. 35.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest OD/WCDL/TL - Floating
over the tenure of the facility. Terms of Repayment OD - Maximum 12
Months. WCDL - Up to a
maximum of 90 Days. TL - 48 Months. Extent and Operation of the charge First and exclusive
charge by way of Hypothecation of Current assets and Movable fixed assets of
the Borrower, in favour of Kotak Mahindra Bank to secure the facilities
granted by the Bank to the Borrower. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
The whole of the
Borrower's present and future Current assets and Movable fixed assets, to the
Deed of Hypothecation. |
|
Date of
instrument modifying the charge |
19.07.20112 |
|
Particulars of
the present modification |
Bank had granted
facilities of Rs.8.000 Millions (OD – 6.0000 Millions and WCDL- 2.000
Millions) to the Borrower which was secured by way of Hypothecation on
Current assets and Moveable fixed assets of the Company on 31.05.2011. Said
charge was modified on 19.07.2011. Now bank has enhance OD facility from
Rs.19.500 Millions to Rs.27.500 Millions and WCDL facility from Rs.2.000
Millions to 2.500 Millions and also granted additional TL facility of
Rs.5.000 Millions to the Company and the said charge is modified and extended
to the increase total facilities of Rs.35.000 Millions. |
FIXED ASSETS
·
Ford Ikon
·
Ford Fisle (Car)
·
Maruti Wagon
·
Furniture and Fixture
·
Cycle
·
Electrical Equipment
·
EPBX
·
Weighing Scale
·
Air Conditioner
·
Coffee Machine
·
Fan
·
Scooter
·
Water Cooler
·
Mobile
·
Hero Honda
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. 54.83 |
|
|
1 |
Rs. 89.23 |
|
Euro |
1 |
Rs. 72.48 |
INFORMATION DETAILS
|
Report Prepared by
: |
UDS |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
43 |
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.