MIRA
INFORM REPORT
|
Report Date : |
05.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
NOREX FLAVOURS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Opposite Roadways Bus Stand, Gajroula Chandpur Road, Mandi Dhanaura –
244321, Uttar Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
24.10.2008 |
|
|
|
|
Com. Reg. No.: |
20-036205 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.19.296 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74900UP2008PTC036205 |
|
|
|
|
IEC No.: |
2908002582 |
|
|
|
|
TIN No.: |
09459402473 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCN8820E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Essential Oils and Aroma Chemicals. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 130000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was established as a partnership concern in 2004 and during
2008 it was reconstituted as a private limited company. The company commenced
its activities during March 2009. Subject is an established company having a moderate track record. There appears huge external borrowings recorded by the company. However, trade relations are reported as fair. Business is active.
Payment terms are slow but correct. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces of
its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to become
a major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis -
in large part because of strong domestic demand - and growth exceeded 8%
year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
A4 (Short Term Bank Loan Facility) |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
04.11.2011 |
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 : |
Opposite Roadways Bus Stand, Gajroula Chandpur Road, Mandi Dhanaura –
244321, Uttar Pradesh, India |
|
Tel. No.: |
91-5924-273095/ 273241 |
|
Fax No.: |
91-5924-273328/ 275318 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Vaibhav Kumar Agarwal |
|
Designation : |
Director |
|
Address : |
Moh Vijay Nagar, Mandi Dhanaura – 244231, Uttar Pradesh, India |
|
Date of Birth/Age : |
22.01.1978 |
|
Date of Appointment : |
01.11.2008 |
|
PAN No.: |
AAFHV1232G |
|
DIN No.: |
02399037 |
|
|
|
|
Name : |
Mr. Rahul Agarwal |
|
Designation : |
Director |
|
Address : |
Mohalla – Vijay Nagar, Mandi Dhanaura, Amroha, Jyotiba Phulley Nagar, Dhanaura
– 244231, Uttar Pradesh, India |
|
Date of Birth/Age : |
26.06.1976 |
|
Date of Appointment : |
24.10.2008 |
|
PAN No.: |
ABXPA8233D |
|
DIN No.: |
02333430 |
|
|
|
|
Name : |
Mr. Divyanshu Agarwal |
|
Designation : |
Director |
|
Address : |
Mohalla – Vijay Nagar, Mandi Dhanaura, Amroha, Jyotiba Phulley Nagar,
Dhanaura – 244231, Uttar Pradesh, India |
|
Date of Birth/Age : |
25.07.1986 |
|
Date of Appointment : |
24.10.2008 |
|
PAN No.: |
AGIPA5726D |
|
DIN No.: |
02333444 |
|
|
|
|
Name : |
Ms. Sadhana Agarwal |
|
Designation : |
Director |
|
Address ; |
House No.96, Moh Vijay Nagar (Ward 6), Dhanaura District Moradabad –
244231, Uttar Pradesh, India |
|
Date of Birth/Age : |
21.10.1957 |
|
Date of Appointment : |
01.11.2008 |
|
PAN No.: |
ABXPA8228L |
|
DIN No.: |
02411834 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Rahul Agrawal |
|
318200 |
|
Divyanshu Agrawal |
|
315000 |
|
Divyanshu Agrawal |
|
145000 |
|
Sadhna Agrawal |
|
390000 |
|
Ajay Kumar Agrawal HUF |
|
50100 |
|
Anil Kumar Agrawal |
|
100 |
|
Nilanshu Agrawal |
|
180100 |
|
Rahul Agrawal HUF |
|
30100 |
|
Anil Kumar Agrawal HUF |
|
30100 |
|
Vaibhav Kumar Agrawal HUF |
|
30100 |
|
Meena Arya |
|
100100 |
|
Priti Agrawal |
|
130100 |
|
Rakhi Agrawal |
|
100 |
|
Monika Agrawal |
|
150100 |
|
Sonam Agrawal |
|
100 |
|
Bhumika Agrawal |
|
100 |
|
Vartika Agrawal |
|
100 |
|
Tulika Agrawal |
|
100 |
|
Truth Tradex Private Limited, India |
|
35000 |
|
Karuna Merchantile Private Limited, India |
|
10000 |
|
Apex Softech Private Limited, India |
|
10000 |
|
ABL Foods Private Limited, India |
|
5000 |
|
|
|
|
|
Total |
|
1929600 |
As on: 11.10.2012
|
Names of Allottee |
|
No. of Shares |
|
Divyanshu Agrawal |
|
100000 |
|
Monika Agarwal |
|
100000 |
|
Nilanshu Agarwal |
|
30000 |
|
Sadhna Agarwal |
|
100000 |
|
Vaibhav Kumar Agrawal |
|
50000 |
|
Rahul Agarwal |
|
70000 |
|
Vartika Agarwal |
|
50000 |
|
Tulika Agarwal |
|
50000 |
|
Anil Kumar Agarwal HUF |
|
80000 |
|
Rahul Agarwal HUF |
|
70000 |
|
Vaibhav Kumar Agrawal HUF |
|
50000 |
|
|
|
|
|
Total |
|
750000 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
3.11 |
|
Directors or relatives of directors |
|
89.61 |
|
Other top fifty shareholders |
|
7.28 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Essential Oils and Aroma
Chemicals. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
State Bank of India, Specilised Commercial
Branch, Civil Lines, Moradabad – 244001, Uttar Pradesh, India |
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sudhir Saran Agarwal Chartered Accountant |
|
Address : |
B-684/1, AC Plaza, Lajpat Nagar, Moradabad – 244001, Uttar Pradesh,
India |
|
Tel. No.: |
91-591-2490927 |
|
PAN No.: |
AVSPA8292N |
CAPITAL STRUCTURE
After: 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2679600 |
Equity Shares |
Rs.10/- each |
Rs.26.796
Millions |
|
|
|
|
|
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1929600 |
Equity Shares |
Rs.10/- each |
Rs.19.296
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 |
19.296 |
9.296 |
4.996 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
13.233 |
9.895 |
0.743 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
32.529 |
19.191 |
5.739 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
10.228 |
|
|
2] Unsecured Loans |
|
|
17.074 |
|
|
TOTAL BORROWING |
82.229 |
22.992 |
27.302 |
|
|
DEFERRED TAX LIABILITIES |
0.231 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
114.989 |
42.183 |
33.041 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
16.088 |
2.892 |
1.101 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.780 |
1.656 |
1.057 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
OTHER NON CURRENT ASSETS |
0.131 |
0.104 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
56.848
|
26.050
|
2.338 |
|
|
Sundry Debtors |
38.010
|
8.841
|
28.134 |
|
|
Cash & Bank Balances |
1.033
|
1.822
|
0.572 |
|
|
Other Current Assets |
0.000
|
0.046
|
1.770 |
|
|
Loans & Advances |
2.620
|
1.711
|
0.000 |
|
Total
Current Assets |
98.511
|
38.470
|
32.814 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.308
|
0.125
|
|
|
|
Other Current Liabilities |
1.213
|
0.814
|
|
|
|
Provisions |
0.000
|
0.000
|
0.256 |
|
Total
Current Liabilities |
1.521
|
0.939
|
2.061 |
|
|
Net Current Assets |
96.990
|
37.531
|
30.753 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.130 |
|
|
|
|
|
|
|
|
TOTAL |
114.989 |
42.183 |
33.041 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
3.338 |
2.002 |
0.729 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
490.284 |
357.716 |
160.064 |
|
|
TOTAL EARNINGS |
490.284 |
357.716 |
160.064
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.73 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.57 |
1.25 |
5.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
64.77 |
40.97 |
15.92 |
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 |
No |
|
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 |
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U74900UP2008PTC036205 |
|
Name of the
company |
NOREX FLAVOURS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
Opposite Roadways Bus Stand, Gajroula Chandpur Road, Mandi Dhanaura –
244321, Uttar Pradesh, India E-mail: gauravnishantmca@yahoo.com |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10168172 |
|
Type of charge |
·
Book
debts ·
Movable
property (not being pledge) ·
Floating
charge ·
Others
(Fixed Assets) |
|
Particular of
charge holder |
State Bank of E-mail: sbi.04113@sbi.co.in |
|
Nature of instrument
creating charge |
1. Supplemental
Agreement of Loan cum Hypothecation (SME-4)
2. Letter of
Arrangement (SME-1) |
|
Date of
instrument Creating the charge |
30.07.2012 |
|
Amount secured by
the charge |
Rs.187.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Working Capital-@
1.00% margin above Base Rate .Present effective rate being 11.00% p.a. with
monthly rests or at such other rate(s) as may be notified by the Bank to the
Borrower from time to time. Terms of
Repayment Working Capital -
Repayable on demand. Margin 25% on Raw
material: Indigenous Semi Finished Goods, Finished goods,
Components/consumables/spares/export incentives 40% on Domestic
Receivables 25% on EPC Extent and
Operation of the charge The Co's assets
as mentioned hereunder (As per Column No.15) are hypothecated to secure
following credit facilities agg. to Rs.187.000 Millions granted by the Bank:- 1.EPC Rs. 80.000 Millions 2.FBP Rs. 70.000 Millions 3.SLC Rs. 30.000 Millions 4.Forward
Contract Rs.7.000 Millions (Limit Rs.350.000 Millions credit conversion
Rs.7.000 Millions) TOTAL Rs.187.000
Millions *Interchangeability
of Rs.30.000 Millions from EPC to FBP and Rs.10.000 Millions from FBP to EPC. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
First charge on
entire current assets including stocks of raw materials, stock in process,
finished goods such as Chemical, fuel and consumable and all other movables
assets of the Borrower. Hypothecation of
all present and future book debts including receivables, documents of title
to goods, outstanding monies, bills, invoices, documents, contracts, export
incentives etc. of the Borrower. Hypothecation of
all present and future machinery and fixed assets belonging to or in the
possession or control of the Borrower wherever lying, stored, kept or in
transit. |
|
Date of instrument
modifying the charge |
08.02.2012 |
|
Particulars of
the present modification |
The various
credit facilities granted by the Bank has now been enhanced from Rs.141.300
Millions to Rs.187.000 Millions. Therefore, total amount of charge secured against
hypothecation of entire current assets, fixed assets, stocks, book debts,
plant and machinery etc. as per details mentioned in column No.15 above has
now been enhanced from Rs.141.300
Millions to Rs.187.000 Millions and breakup of credit facilities as per
Column No.13(d) above. |
FIXED ASSETS:
·
Buildings
·
Car
·
Computers
·
Fax
·
Furniture and Fixture
·
Mobile
·
Plant and Machinery
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.54.85 |
|
|
1 |
Rs.88.16 |
|
Euro |
1 |
Rs.71.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
30 |
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.