|
Report Date : |
22.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAFEX INDUSTRIES LIMITED (w.e.f.16.05.2012) |
|
|
|
|
Formerly Known
As : |
SAFEX INDUSTRIES PRIVATE LIMITED (w.e.f.04.05.2012) SAFEX EQUIPMENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.-517, Phase-4, G.I.D.C., Vatva, Ahmedabad-382445, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
02.02.1990 |
|
|
|
|
Com. Reg. No.: |
04-013315 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1.634 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29304GJ1990PLC013315 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Material Handling Equipments like EOT
Crane and HOT Crane |
|
|
|
|
No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 130000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. The
management of the company has failed to file its financials with the
government department for the year 2012. However, as per previous year’s record the company is found to be
performing well. Trade relations are reported as decent. Business is active. Payment
terms are usually correct. 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.
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.
INFORMATION PARTED BY
|
Name : |
Mr. Sagar Shah |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-9924099400 |
|
Date : |
19.01.2013 |
LOCATIONS
|
Registered Office / Factory : |
Plot No.-517, Phase-4, G.I.D.C., Vatva, Ahmedabad-382445, Gujarat,
India |
|
Tel. No.: |
91-79-25842836 / 25892376 |
|
Mobile No.: |
91-9924099400 (Mr. Sagar Shah) |
|
Fax No.: |
91-79-40083850 / 25833197 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Mohan Khemchand Assudani |
|
Designation : |
Director |
|
Address : |
19/402, Satyagrah Chhavnil, Satellite, Ahmedabad-380015, Gujarat,
India |
|
Date of Appointment : |
02.02.1990 |
|
DIN No.: |
01494496 |
|
|
|
|
Name : |
Mr. Yogeshkumar Ratilal Shah |
|
Designation : |
Director |
|
Address : |
125, Tapovan Society, Near Manekbaug, Ambawadi, Ahmedabad-380015,
Gujarat, India |
|
Date of Appointment : |
02.02.1990 |
|
DIN No.: |
01039397 |
|
|
|
|
Name : |
Ms. Pushpaben Suryakant Bhatia |
|
Designation : |
Director |
|
Address : |
17/323, Satyagrah Chhavnil, Satellite, Ahmedabad-380015, Gujarat,
India |
|
Date of Appointment : |
02.02.1990 |
|
DIN No.: |
01741268 |
KEY EXECUTIVES
|
Name : |
Mr. Sagar Shah |
|
Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Mohan Khemchand Assudani |
2724 |
|
Yogeshkumar Ratilal Shah |
5448 |
|
Pushpaben Suryakant Bhatia |
5448 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Material Handling Equipments like EOT Crane
and HOT Crane |
|
|
|
|
Products : |
·
Cranes ·
Hoists |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
·
Bangladesh ·
Srilanka ·
Gulf Countries ·
African Countries |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash, Credit |
|
|
|
|
Purchasing : |
L/C, Cash, Credit |
PRODUCTION STATUS (AS ON : 31.03.2011)
|
Particulars |
Unit |
Actual
Production |
|
Cranes |
Nos. |
145 |
|
Hoists |
Nos. |
222 |
GENERAL INFORMATION
|
Customers : |
·
OEM’s |
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
300 (Approximately) |
|||||||||||||||
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|
|||||||||||||||
|
Bankers : |
·
Bank of India, Memnagar Road Branch, 22-25,
Sahajanad Arcade, 132, Ring Road, Memnagar, Ahmedabad-380052, Gujarat,
India Tel No.:- 91-288-2561542 ·
HDFC Bank |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BCM Associates Chartered Accountant |
|
Address : |
402/403, Janpath Complex, Opposite Nehru Bridge End, Ashram Road,
Ahmedabad-380009, Gujarat, India |
|
PAN No.: |
ABCPM8356Q |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24000 |
Equity Shares |
Rs.100/- each |
Rs. 2.400 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16344 |
Equity Shares |
Rs.100/-
each |
Rs. 1.634
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 |
1.634 |
1.634 |
1.634 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
31.059 |
25.007 |
20.675 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
32.693 |
26.641 |
22.309 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
6.614 |
0.745 |
2.821 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
6.614 |
0.745 |
2.821 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.127 |
0.161 |
|
|
|
|
|
|
|
|
TOTAL |
39.307 |
27.513 |
25.291 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
26.129 |
23.658 |
16.749 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
4.000 |
4.000 |
4.000 |
|
|
DEFERREX TAX ASSETS |
0.085 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
38.287
|
9.611 |
7.306 |
|
|
Sundry Debtors |
43.832
|
37.986 |
34.991 |
|
|
Cash & Bank Balances |
9.432
|
7.519 |
6.399 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
8.659
|
8.784 |
5.588 |
|
Total
Current Assets |
100.210
|
63.900 |
54.284 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
72.739
|
48.267 |
36.359 |
|
|
Other Current Liabilities |
15.588
|
13.760 |
11.228 |
|
|
Provisions |
2.790
|
2.018 |
2.155 |
|
Total
Current Liabilities |
91.117
|
64.045 |
49.742 |
|
|
Net Current Assets |
9.093
|
(0.145) |
4.542 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
39.307 |
27.513 |
25.291 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Domestic Sales |
214.344 |
152.598 |
117.081 |
|
|
|
Export Sales |
7.109 |
7.505 |
43.090 |
|
|
|
Other Income |
5.437 |
4.706 |
4.680 |
|
|
|
TOTAL (A) |
226.890 |
164.809 |
164.851 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing and Other Expenses |
242.741 |
157.771 |
140.800 |
|
|
|
Fringe Benefit Tax |
0.000 |
0.006 |
0.120 |
|
|
|
Inventory Variation |
(28.675) |
(2.305) |
15.438 |
|
|
|
TOTAL (B) |
214.066 |
155.472 |
156.358 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
12.824 |
9.337 |
8.493 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.347 |
0.229 |
0.167 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
12.477 |
9.108 |
8.326 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.846 |
2.793 |
1.365 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
8.631 |
6.315 |
6.961 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.579 |
1.983 |
2.229 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
6.052 |
4.332 |
4.732 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
6.052 |
4.332 |
4.732 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
370.27 |
265.06 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.67
|
2.63 |
2.87 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.90
|
3.94 |
4.35 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.83
|
7.21 |
9.80 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.24 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.99
|
2.44 |
2.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10
|
1.00 |
1.09 |
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 |
Yes |
|
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 |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
No |
|
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 |
OPERATIONAL HIGHLIGHTS
During the period
the company has manufactured and sold 134 cranes and 119 hoists. The
performance of the Company has not been satisfactory because of the
recessionary trend during the period. The sale of the Company for the year has
registered a decrees sale of the previous year. The directors are hopeful of
better performance during the coming year/s.
FORM 8
|
Corporate
identity number of the company |
U29304GJ1990PLC013315 |
|
Name of the
company |
SAFEX INDUSTRIES
LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Plot No.-517, Phase-4, G.I.D.C., Vatva, Ahmedabad-382445, Gujarat, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10382468 |
|
Type of charge |
·
Book
debts ·
Movable
property (not being pledge) ·
Floating
charge |
|
Particular of
charge holder |
Bank of India, Memnagar Road Branch, 22-25, Sahajanad Arcade, 132, Ring Road, Memnagar, Ahmedabad-380052, Gujarat, India |
|
Nature of
instrument creating charge |
Supplemental Deed
of Hypothecation Executed by Company for Extension of First and Exclusive
Charge by way Hypothecation on All Tangible Movable Properties to Secure
Modified, Revised and Increased Fund Based and Non Fund Based Aggregate
Credit Facilities of Rs. 95.000 Millions |
|
Date of
instrument Creating the charge |
01.09.2012 |
|
Amount secured by
the charge |
Rs. 95.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest Cc STK / BK DTS -
3.25% over BR Present 13.75% P. A. With monthly rest or such other rate as
may be prescribed by BK FM time to time BK GUA - As per
BK prevailing norms Terms of repayment CC Stocks - On
Demand / Annual Review CC Book Debts -
On Demand / Annual Review Inland BK
Guarantee - On Demand / Annual Review Margin CC Stocks - 25% CC Book Debts -
40% Inland BK GUA -
20% by way of TDR Extent and operation of the charge First and
exclusive hypothecation charge on all tan movable prop of the co being plant
and mach, stocks of mat, book debts and other movable properties both present
and future to secure modified, revised and increased fund based and non fund
based aggregate limits of Rs. 95.000 Millions together with INT, accrued INT,
ADDL INT, Penal INT, commission, cost and charges and all such other amt due
to the bank fm time to time of what so ever nature Other Revised Limits
Amt Rs in Millions CC - Stock - 60.000 CC - Book Debts -
(30.000) Max CC 60.000 Inland BK GUA –
35.000 Total max
Aggregate - 95.000 |
|
Short particulars
of the property charged (Including location of the property) |
All That Movable
Plant and Machinery, Equipments Whether Installed Or Not and Whether Lying
Loose Or In Cases Lying At Plot No 517
Ph IV GIDC Vatva Ahmedabad Or Else All STK Of Raw
Mat Like Steel Ms PLT, Fin Goods - 20 TN D/G 3 TN S/G, Sfg, Spares
Consumables Etc Whether Lying At Co's Prem / God At Plot No 517 Ph IV GIDC
Vatva Ahmedabad Or Else All The Present
and Future BK DTS, Out standings, Money Receivables, Claims, Bills |
|
Particulars of
the present modification |
BK Granted
Additional CC STK Lim Of Rs 52.500 Millions and Additional CC BK Dt S/L Of
Rs. 22.500 Millions With Max Cc Lim Rs 60.000 Millions and Additional BK GUA
Limit Of Rs 22.500 Millions, Thereby Modifying and Increasing Total FB and
NFB Max Aggregate Limits Fm Rs. 20.000 Millions To Rs. 95.000 Millions. Thus
First and Excl Hypothecation Charge On All Movable Assets Like Plant and
Machinery, Stock, Book Debts and Other Movable Assets is Modified and
Increased Fm Rs 20.000 Millions To Rs. 95.000 Millions and Will Operate For Rs.
95.000 Millions W. E. F. 01.09.2012. |
FIXED ASSETS
·
Land
·
Factory Building
·
Office Building
·
Elevators
·
Plant and Machinery
·
Electric Installation
·
Office Equipments
·
Computers
·
Furniture and Fixtures
·
Motor Cars
·
Cycles
·
Xerox Machine
·
Other Vehicles
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 records 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] 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. 53.87 |
|
|
1 |
Rs. 85.52 |
|
Euro |
1 |
Rs. 71.77 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.