MIRA
INFORM REPORT
|
Report Date : |
08.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
SONKAMAL ENTERPRISES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No. 602, Sunil Enclave, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
06.10.1999 |
|
|
|
|
Com. Reg. No.: |
11-122093 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 42.413
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51410MH1999PTC122093 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMM21156C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECS2623Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Importers and Traders of Chemicals and Pharmaceuticals Products. |
|
|
|
|
No. of Employees
: |
38 [Approximately] |
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 760000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track record. Latest
financials i.e. 2011-12 are missing from the government department from the
available financials of 2011. It seems that there appears huge external
borrowings and its increasing. However, trade relations are reported as fair.
Business is active. Payments are reported to be 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 |
CARE |
|
Rating |
A4+ (Short Term Bank Facilities) |
|
Rating Explanation |
Minimal degree of safety. It carry very high credit risk. |
|
Date |
31.12.2012 |
|
Rating Agency Name |
CARE |
|
Rating |
BB (Long Term Bank Facilities) |
|
Rating Explanation |
Moderate risk of default |
|
Date |
31.12.2012 |
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 / Head Office : |
Unit No. 602, Sunil Enclave, Pereira Hill Road, Andheri (East),
Mumbai-400099, Maharashtra, India |
|
Tel. No.: |
91-22-28316876 / 28316877 /
28316878 /28316880 |
|
Fax No.: |
91-22-28316879 |
|
E-Mail : |
sonkamal@sonkamal.com janak@sonkamal.com purchase@sonkamal.com sales@sonkamal.com accounts@sonkamal.com info@sonkamal.com |
|
Website : |
|
|
Area : |
1500 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Ahmadabad Office
: |
B-31, Goyal
Tower, University road, opposite Gulbai Tekra Police Station,
Near Jahanvee Restaurant, Ahmedabad-380015, Gujarat, India |
|
|
|
|
Warehouse : |
PANVEL
SITE: Plot No.42/2 , Survey No.1, Next to L and T Godown Old Bombay Pune Road, Bhokarpada, Panvel, Dist: Raigad-410207, Maharashtra, India |
|
Tel. No.: |
95 –2192-255508 /255214 |
|
Fax No.: |
95 –2192-255515 |
|
E-Mail : |
sonkamal@panvel.com |
|
Location : |
Owned |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Janak Pranlal Ladhani |
|
Designation : |
Chairman |
|
Address : |
501, Siddhi Vinayak Apartments, M.V. Road, Andheri (East),
Mumbai – 400 069, Maharashtra, India |
|
Date of Birth/Age : |
13.07.1957 |
|
Qualification: |
B.Com |
|
Date of Appointment : |
06.10.1999 |
|
Din No.: |
00045356 |
|
|
|
|
Name : |
Mrs. Meena Janak Ladhani |
|
Designation : |
Director |
|
Address : |
501, Siddhi Vinayak Apartments, M.V. Road, Andheri (East),
Mumbai – 400 069, Maharashtra, India |
|
Date of Birth/Age : |
10.09.1964 |
|
Qualification: |
S. S. C. |
|
Date of Appointment : |
06.10.1999 |
|
Din No.: |
00045261 |
|
|
|
|
Name : |
Mr. Virag Janak Ladhani |
|
Designation : |
Director |
|
Address : |
501, Siddhi Vinayak Apartments, M.V. Road, Andheri (East),
Mumbai – 400 069, Maharashtra, India |
|
Date of Birth/Age : |
23.11.1988 |
|
Date of Appointment : |
14.06.2007 |
|
Din No.: |
01590678 |
|
|
|
|
Name : |
Mr. Vinodrai Bhupatrai Shah |
|
Designation : |
Director |
|
Address : |
403, Monica (1), Near Natraj Studio, |
|
Date of Birth/Age : |
13.07.1966 |
|
Date of Appointment : |
14.06.2007 |
|
Din No.: |
01590610 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Janak Pranlal Ladhani |
278125 |
|
Meena Janak Ladhani |
97500 |
|
Taraben Pranlal Ladhani |
20000 |
|
Janak Pranlal Ladhani (HUF) |
5000 |
|
Vinodrai Bhupatrai Shah |
1 |
|
Hitesh Pushkarlal Tambadia |
1 |
|
Virag Janak Ladhani |
23500 |
|
TOTAL
|
424127 |
AS ON 30.09.2011
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importers and Traders of Chemicals and Pharmaceuticals Products. |
|
|
|
|
Products : |
|
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Actual
Production |
|
|
|
|
|
Chemicals |
KGS. |
2718040 |
GENERAL INFORMATION
|
No. of Employees : |
38 [Approximately] |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
N. D.
Mehta Associates Chartered
Accountants |
|
Address : |
Balakrishna
Chambers, Office No. 18, 2nd Floor, 1/4 Issaji Street Vadgadi, Mumbai
– 400 003, Maharashtra, India |
|
Tel. No.: |
91-22-23441661
/ 23441635 |
|
Mobile No.: |
91-9819190230 |
|
Fax No.: |
91-22-23441661
/ 23441635 |
|
E-Mail : |
|
|
Pan No.: |
AAAPM6842Q |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
450000 |
Equity Shares |
Rs.100/- each |
Rs. 45.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
424127 |
Equity Shares |
Rs.100/-
each |
Rs. 42.413
Millions |
|
|
|
|
|
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 |
42.413 |
39.000 |
39.000 |
|
|
2] Share Application Money |
0.000 |
13.650 |
0.000 |
|
|
3] Reserves & Surplus |
148.418 |
94.060 |
51.290 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
190.831 |
146.710 |
90.290 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
214.052 |
112.305 |
52.611 |
|
|
2] Unsecured Loans |
40.617 |
23.504 |
23.029 |
|
|
TOTAL BORROWING |
254.669 |
135.809 |
75.640 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
445.500 |
282.519 |
165.930 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
6.065 |
5.112 |
5.983 |
|
|
Capital work-in-progress |
0.000 |
0.091 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
84.957
|
54.082 |
38.403
|
|
|
Sundry Debtors |
618.257
|
542.920 |
248.567
|
|
|
Cash & Bank Balances |
105.823
|
70.662 |
55.785
|
|
|
Other Current Assets |
6.136
|
6.136 |
0.000
|
|
|
Loans & Advances |
35.107
|
28.621 |
20.814
|
|
Total
Current Assets |
850.280
|
702.421 |
363.569 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
387.070
|
412.392 |
202.593 |
|
|
Other Current Liabilities |
0.825
|
0.099 |
0.766
|
|
|
Provisions |
23.081
|
12.739 |
0.411
|
|
Total
Current Liabilities |
410.976
|
425.230 |
203.770 |
|
|
Net Current Assets |
439.304
|
277.191 |
159.799
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.131 |
0.125 |
0.148 |
|
|
|
|
|
|
|
|
TOTAL |
445.500 |
282.519 |
165.930 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
1941.357 |
1521.606 |
|
|
|
Other Income |
|
6.865 |
6.569 |
|
|
|
TOTAL
(A) |
2760.000 [Approximately] |
1948.222 |
1528.175 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption of Materials |
|
194.338 |
155.097 |
|
|
|
Trading Purchase Cost |
|
1635.329 |
1304.888 |
|
|
|
Personnel Cost |
|
25.738 |
15.901 |
|
|
|
Administrative Expenses |
|
8.035 |
5.544 |
|
|
|
Selling and Distribution Expenses |
|
21.827 |
14.752 |
|
|
|
Miscellaneous Expenditure Written Off |
|
0.023 |
0.023 |
|
|
|
Manufacturing Expenses |
|
(12.156) |
28.594 |
|
|
|
TOTAL (B) |
NA |
1873.134 |
1524.799 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
75.088 |
3.376 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
18.841 |
22.689 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
56.247 |
(19.313) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.980 |
1.189 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
66.803 |
55.267 |
(20.502) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
22.683 |
12.497 |
0.797 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
44.120 |
42.770 |
(21.299) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
39.290 |
60.589 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
82.060 |
39.290 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
112.05 |
109.67 |
(54.61) |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover [Approximately] |
|
|
3090.000 |
Expected Sales (2012-13) : Rs.3750.000 Millions.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
2.20
|
(1.39)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
2.85
|
(1.35)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.80
|
7.81
|
(5.55)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.38
|
(0.23)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.49
|
3.82
|
3.09
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.07
|
1.65
|
1.78
|
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
FINANCIAL RESULTS
The Company has made a Profit to the tune of Rs. 66.803 Millions as
against Loss of Rs. 55.267 Millions during the previous year.
BANKERS CHARGES REPORT
AS PER REGISTRY
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U51410MH1999PTC122093 |
|
Name of the
company |
SONKAMAL
ENTERPRISES PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Unit No. 602, Sunil Enclave, Pereira Hill Road, Andheri
(East), Mumbai-400099, Maharashtra, India |
|
Type of charge |
Book Debts Movable Property
[not being pledge] Floating Charge |
|
Particular of
charge holder |
Email: sme.form8@sc.com |
|
Nature of
description of the instrument creating or modifying the charge |
Hypothecation
Agreement |
|
Date of
instrument Creating the charge |
31.10.2011 |
|
Amount secured by
the charge |
Rs.330.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As agreed by and
with the Bank from time to time. Terms of Repayment As agreed by and
with the Bank from time to time. Margin As applicable, if
any. Extent and Operation of the charge The Bank is
having pari passu charge with State Bank of India on the security given by
the Company. |
|
Short particulars
of the property charged |
Hypothecation by way
of pari passu charge with State Bank of India on: a) All the stock in trade
both present and future consisting of raw materials, finished goods, goods in
process of Manufacturing and
other merchandise. b) All the present and future book debts, outstanding
moneys receivable, claims and bills. |
CONTINGENT LIABILITIES NOT PROVIDED IN ACCOUNTS
i)
Sales tax demand of Rs.9.668 Millions for the
F.Y.2005-6 for which company is in appeal with Appellate authority.
ii)
Company has given the Bank Guarantee of Rs.100.000
Millions to SI Group India Limited towards outstanding amount payable to them
for supply of material. The company has also loged with the bank 15% of the
aggregate value of bank guarantee by way of fixed deposit.
i)
Outstanding letter of credit Rs.153.830 Millions
(USD $ 3401074)
FIXED
ASSETS:
·
Godown at Bhiwandi
·
Furniture and Fixtures
·
Air Conditioner
·
Office Equipments
·
Computer
·
Motor Car
·
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.54.97 |
|
|
1 |
Rs.88.10 |
|
Euro |
1 |
Rs.71.66 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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.