MIRA
INFORM REPORT
|
Report Date : |
22.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
SOLYVENT FLAKT (INDIA) PRIVATE LIMITED (w.e.f. 06.12.2012) |
|
|
|
|
Formerly Known
As : |
FLAKT (INDIA) PRIVATE LIMITED (w.e.f. 29.03.2011) FLAKT (INDIA) LIMITED |
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|
Registered
Office : |
No.147, Poonamalee High Road, Numbal Village, Kancheepuram D.T.,
Chennai – 600077, Tamilnadu |
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|
Country : |
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|
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Financials (as
on) : |
31.12.2011 |
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|
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Date of
Incorporation : |
15.05.2002 |
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|
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|
Com. Reg. No.: |
18-048938 |
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|
Capital
Investment / Paid-up Capital : |
Rs.118.589
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29199TN2002PLC048938 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEF03020D |
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PAN No.: [Permanent Account No.] |
AAACF6153G |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Industrial Fans and Blowers. |
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 290000 |
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|
|
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of ‘Flakt Woods [Luxembourg] sarl’. It is an
established company having a moderate track record. There appear huge accumulated losses recorded by the company. However, trade relations are reported as fair. Business is active.
Payment terms are reported as 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 |
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 : |
No.147, Poonamalee High Road, Numbal Village, Kancheepuram D.T.,
Chennai – 600077, Tamilnadu, India |
|
Tel. No.: |
91-44-26273121/ 26272023/ 26273141/ 2023/ 2216/ 4383 |
|
Fax No.: |
91-44-26272606 |
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E-Mail : |
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|
Website : |
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|
Corporate Office/ Factory : |
Budge Budge Trunk Road, Maheshtala, Kolkata – 700141, West Bengal,
India |
|
Tel. No.: |
91-33-24902412 |
|
Fax No.: |
91-33-24901643 |
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|
|
|
Branch Office : |
Located at:
|
DIRECTORS
As on: 23.04.2012
|
Name : |
Mr. Aloke Mookherjea |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
P553, |
|
Date of Birth : |
20.09.1937 |
|
Date of Appointment : |
15.05.2002 |
|
PAN No.: |
AEXPM8917P |
|
DIN No.: |
00174385 |
|
|
|
|
Name : |
Mr. Sabyasachi Mitra |
|
Designation : |
Whole Time Director |
|
Address : |
Flat – 5C, Rajkamal, 128, |
|
Date of Birth : |
19.06.1970 |
|
Date of Appointment : |
18.04.2011 |
|
PAN No.: |
ADSPM9541R |
|
DIN No.: |
01481697 |
|
|
|
|
Name : |
Mr. Anil Ram Baijal |
|
Designation : |
Managing Director |
|
Address : |
Mangalam 2C, 2nd Floor, 33, |
|
Date of Birth : |
14.11.1948 |
|
Date of Appointment : |
18.04.2011 |
|
PAN No.: |
AAGPB3655A |
|
DIN No.: |
02276752 |
KEY EXECUTIVES
|
Name : |
Mr. Mohua Datta Gupta |
|
Designation : |
Secretary |
|
Address : |
Flat 302, Nandana 172, B, Avenue, Kolkata – 700029, West Bengal, India
|
|
Date of Birth : |
14.11.1948 |
|
Date of Appointment : |
31.12.2007 |
|
PAN No.: |
AIEPG3324K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 23.04.2012
|
Names of Shareholders |
|
No. of Shares |
|
Flakt Woods ( |
|
11458330 |
|
Mookherjea Aloke |
|
100 |
|
Ganesan M. |
|
48 |
|
Bhattacharya Nath Bhupendra |
|
2 |
|
Mitra Siben |
|
2 |
|
Baijal Rama Anil |
|
2 |
|
Baijal Rama Anil |
|
392 |
|
Mitra Sabyasachi |
|
49 |
|
Carr Guy Stephen |
|
4 |
|
Flakt Woods Cyprus Limited, India |
|
400000 |
|
Datta Gupta Mohua |
|
1 |
|
Total |
|
11858930 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
99.99 |
|
Directors or relatives of Directors |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Industrial Fans and Blowers. |
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Products : |
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PRODUCTION STATUS (As on: 31.12.2011)
Licensed Capacity NA
Installed Capacity * 5662
Note: * Installed capacity of Kasna factory not ascertainable
|
Particulars |
Unit |
Actual
Production |
|
Fan |
Nos. |
6244 |
|
Fan Parts |
Nos. |
808 |
|
Air Handling Units |
Nos. |
2096 |
|
Parts of Air Handling Unit |
Nos. |
25339 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
Plot No. Y – 14, Block – EP, Sector – V, Salt Lake, Electronic Complex,
Bidhan Nagar, Kolkata – 700 091, West Bengal, India |
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PAN.: |
AAEFP5579P |
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Ultimate Holding Company : |
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Indirect Holding Company : |
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Direct Holding Company : |
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Fellow Subsidiaries : |
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CAPITAL STRUCTURE
As on: 31.12.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17000000 |
Equity Shares |
Rs.10/- each |
Rs.170.000 Millions |
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11858930 |
Equity Shares |
Rs.10/- each |
Rs.118.589
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
118.589 |
78.049 |
74.049 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
198.839 |
89.380 |
108.192 |
|
|
4] (Accumulated Losses) |
(243.023) |
(126.693) |
0.000 |
|
|
NETWORTH |
74.405 |
40.736 |
182.241 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.481 |
0.784 |
0.135 |
|
|
2] Unsecured Loans |
180.000 |
180.000 |
250.000 |
|
|
TOTAL BORROWING |
180.481 |
180.784 |
250.135 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
254.886 |
221.520 |
432.376 |
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|
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|
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|
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APPLICATION OF FUNDS |
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|
|
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|
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|
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FIXED ASSETS [Net Block] |
224.368 |
227.126 |
473.344 |
|
|
Capital work-in-progress |
0.482 |
10.292 |
0.564 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
56.248 |
0.842 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
236.341
|
220.923 |
356.225 |
|
|
Sundry Debtors |
503.281
|
370.339 |
362.314 |
|
|
Cash & Bank Balances |
141.091
|
73.845 |
177.356 |
|
|
Other Current Assets |
201.256
|
220.655 |
0.306 |
|
|
Loans & Advances |
86.556
|
75.190 |
272.369 |
|
Total
Current Assets |
1168.525
|
960.952 |
1168.570 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
818.467
|
714.191 |
860.087 |
|
|
Other Current Liabilities |
112.775
|
117.992 |
120.658 |
|
|
Provisions |
207.247
|
200.915 |
230.199 |
|
Total
Current Liabilities |
1138.489
|
1033.098 |
1210.944 |
|
|
Net Current Assets |
30.036
|
(72.146) |
(42.374) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
254.886 |
221.520 |
432.376 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Services |
1811.000 |
1555.917 |
1550.166 |
|
|
|
Other Income |
NA |
144.623 |
88.540 |
|
|
|
TOTAL (A) |
NA |
1700.540 |
1638.706 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
NA |
965.723 |
958.912 |
|
|
|
Personnel Expenses |
|
207.622 |
151.861 |
|
|
|
Other Expenses |
|
500.732 |
453.198 |
|
|
|
Provision for Loss on Impairment |
|
183.568 |
0.000 |
|
|
|
Exceptional Income / (Expenditure) |
|
11.157 |
(88.811) |
|
|
|
TOTAL (B) |
NA |
1868.802 |
1475.160 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
(168.262) |
163.546 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
29.908 |
9.041 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
(198.170) |
154.505 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
68.125 |
36.235 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
(60.082) |
(266.295) |
118.270 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
56.248 |
(54.790) |
50.791 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
(116.330) |
(211.505) |
67.479 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(126.693) |
84.812 |
17.333 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(243.023) |
(126.693) |
84.812 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods direct on FOB basis |
38.658 |
57.814 |
168.362 |
|
|
|
Service Sales |
5.393 |
0.922 |
3.337 |
|
|
|
Commission income |
5.002 |
6.856 |
11.205 |
|
|
|
Service income |
0.534 |
0.000 |
20.391 |
|
|
|
Other Income |
19.274 |
1.606 |
0.000 |
|
|
TOTAL EARNINGS |
68.861 |
67.198 |
203.295 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
47.123 |
17.185 |
37.223 |
|
|
|
Components |
109.010 |
51.483 |
145.103 |
|
|
|
Capital Goods |
0.435 |
4.041 |
3.015 |
|
|
TOTAL IMPORTS |
156.568 |
72.709 |
185.341 |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss)
Per Share (Rs.) |
(14.05) |
(28.55) |
9.11 |
|
%20PRIVATE%20LIMITED%20-%20207102%2022-Jan-2013_files/image001.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.12.2011 |
31.12.2010 |
31.12.2009 |
|
PAT / Total Income |
(%) |
NA
|
(12.44) |
4.12 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(3.32)
|
(17.11) |
7.63 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.31)
|
(22.41) |
7.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.81)
|
(6.54) |
0.65 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
17.73
|
29.79 |
8.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.03
|
0.93 |
0.97 |
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 |
Yes |
|
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 |
No |
REVIEW OF OPERATIONS:
2011 was a challenging year both in terms of global and national economic environment. India recorded the lowest GDP growth (< 7 %) in three years with industrial sector recording < 4 % growth. Tight monetary policy followed by the central bank to counter the cascading impact of inflation had its impact on the industrial growth. In this background, the company has recorded a growth of orders of 10 % and sales of 16 %.
Net sales and services during the year has been recorded at 1811 MINR as against 1556 MINR last year, The Company has posted a net loss for the year amounting to 116 MINR , a reduction from 211 MINR from the last year.
The company is committed to pursue a policy of growth through a combination of activities like introduction of new products, customer retention, introduction of new customers, and expansion in new geographical territories. The company will strive to achieve 25 % growth in sales in the year 2012 compared to 16 % achieved in the current year.
The Air Handling Division (acquired in the year 2009 from Caryaire Equipments India Limited) has witnessed significant 4 FLAKT (INDIA) Private Limited Standalone Balance Sheet for period 01/01/2011 to 31/12/2011 improvement in its operating performance both in terms of order and sales. However, the level of operation achieved was not sufficient for the division to attain positive EBITDA (Earnings before Interest, Tax AND Depreciation and Amortization) although it managed to bring down EBITDA loss by almost 50 MINR. , The management of the company has drawn a detailed action plan to achieve a positive EBITDA for the Air Handling Division in the year 2012 through a combination of market penetration, redesign to cost, cost control and reduction and introduction of high efficiency and intelligent solutions. The Fan busineFss continued to post moderate positive EBITDA even in the midst of difficult industrial scenario. Introduction of e-techno pal range of fans from its Maheshtala (Kolkata) factory is a major step taken this year to tread a path of growth trajectory in the coming years by aiming at customer retention and market expansion by offering efficient, modern and cost effective products/solutions to the customers.
INTRODUCTION:
The year 2011 continued with the trend of the previous year. It was a year full of ups and downs. The global uncertainty still prevails and the Indian economy had to face the problems of high inflation, fiscal debt etc. and also showed signs of slowdown. All these pose a significant risk to sustained growth. However, both the Fan and the Air Climate Solution business of the Company closed the year as per forecasts without churning out any negative last minute surprises. The Company however is committed to face all the hurdles and to come out of the lower growth phase.
NEW PRODUCT LAUNCHES:
Launching of new products forms an important portion of business strategy of both the Fan and the Air Climate Solution divisions of the Company. Fan Division, Kolkata has already launched the new range of high efficiency fans from the e-Techno pal series. The company will be manufacturing e-Techno pal range of Light Industry fans in Kolkata to replace the older generation HA Series fans. These fans are designed, targeting the industry boilers, auxiliary fans in steel and cement industries. The Fan Division of the Chennai Factory is busy in localizing axial fans targeted at large power boilers. Similarly, for the Air Climate Solution Business Division, the Frameless Air Handling Units (Clean Concept) have been launched. These Air Handling Units target the hygiene segment of the market. The Intelligent AHU (with built in controls) have been also quite successful.
UNSECURED LOAN
|
Particulars |
As
on 31.12.2011 |
As
on 31.12.2010 |
|
Fully convertible debentures unsecured |
180.000 |
180.000 |
|
Total |
180.000 |
180.000 |
FIXED ASSETS:
- Other Building
- Plant and Machinery
- Computers
- Office Equipment
- Furniture and Fixtures
- Vehicles
- Capitalized Software
- Office Equipment
- Vehicles
- Freehold Land
- Factory Building
- Other Building
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.53.87 |
|
|
1 |
Rs.85.53 |
|
Euro |
1 |
Rs.71.78 |
INFORMATION DETAILS
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
32 |
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.