MIRA
INFORM REPORT
|
Report Date : |
28.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
S.A. AANANDAN SPINNING MILLS PRIVATE LIMITED |
|
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|
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Registered
Office : |
Post Box No: 153, Srivilliputtur Road, District Kamarajar Rajapalaiyam - 626117, Tamilnadu |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
23.07.1996 |
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Com. Reg. No.: |
18-036146 |
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Capital
Investment / Paid-up Capital : |
Rs. 32.934 Millions |
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|
|
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CIN No.: [Company Identification
No.] |
U17116TN1996PTC036146 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter, Trader of Towels and Napkins Handkerchieves. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 150000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having the company has incurred a
loss in the current year. However, trade relations are reported as fair.
Business is active. Payments are reported to be slow. 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 |
ICRA |
|
Rating |
Fund Based Facility = A4 |
|
Rating Explanation |
The risk prone credit quality it carry high credit risk. |
|
Date |
06.04.2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loan = B+ |
|
Rating Explanation |
The risk prone credit quality it carry very high risk. |
|
Date |
06.04.2012 |
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 : |
Post Box No: 153, Srivilliputtur Road, District Kamarajar
Rajapalaiyam - 626117, Tamilnadu, India |
|
Tel. No.: |
91-4563-230609 |
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Fax No.: |
91-4563-232589 |
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E-Mail : |
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Website : |
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Factory : |
33/1 A, Srivilliputhur Road, Padikasuvaithanpatti Village, Rajapalayam, Madurai – 626110, Tamilnadu, India |
DIRECTORS
As on 24.09.2012
|
Name : |
Ilavarasu Sudha |
|
Designation : |
Director |
|
Address : |
Door No.2/3, Ashok Talkies Road, Rajapalaiyam - 626117,
Tamilnadu, India |
|
Date of Appointment : |
09.03.2000 |
|
DIN No.: |
01816949 |
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|
|
|
Name : |
Mr. Anandan Ilavarasu |
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Designation : |
Managing Director |
|
Address : |
Door No.2/3, Ashok Talkies Road, Rajapalaiyam - 626117,
Tamilnadu, India |
|
Date of Appointment : |
30.03.1997 |
|
DIN No.: |
02443124 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Ilavarasu Sudha |
|
4060 |
|
Anandan Ilavarasu |
|
325275 |
|
Total |
|
329335 |
As on 24.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter, Trader of Towels and Napkins
Handkerchieves. |
|
|
|
|
Products : |
·
Cotton Ring Spun Yarn ·
Shop Towels |
GENERAL INFORMATION
|
Suppliers : |
·
Benitha textile Private Limited ·
Nachiar Spinning mills Private Limited ·
GVG Industries Private Limited ·
Janaa Industry ·
Janaki Cotton Mills Limited ·
Muthulakshmi Spinning Mills ·
Sakthi Vinayga Spinning Mills ·
Shri Ramajayam Spintex Private Limited |
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Customers : |
·
Bharat petrolaum Corporation Limited ·
G. Mayaguru ·
Manikaran Power Limited ·
Saravana Textiles Private Limited ·
T V Sundram Lyengar and Sons Limited ·
Amblgai Enterprises ·
Aruna Mercantile Corporation ·
Bakaert Carding Solutions Private Limited ·
India Oil Corporation Limited |
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No. of Employees : |
Not Available |
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Bankers : |
· State Bank of India, Commercial Branch, Sankarankoil Road, Rajapalayam - 626117, Tamilnadu, India · Bank of India · HDFC Bank Limited · Kanur Vysya Bank Limited · ICICI Bank Limited · Indian Bank, Chennai |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
R. Saravanan Chartered Accountants |
|
Address : |
14A, T.P Mills Road, Rajapalayam – 626117, Tamilnadu, India |
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Tel. No.: |
91-4563-220258 |
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Mobile No.: |
91-9842120258 91-9842820257 |
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E-Mail : |
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PAN.: |
APZPS1610N |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000 |
Equity Shares |
Rs.100/- each |
Rs.60.000 Millions |
|
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
329335 |
Equity Shares |
Rs.100/-
each |
Rs.32.934
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 |
32.934 |
22.934 |
22.934 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
5.531 |
14.982 |
11.012 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
38.465 |
37.916 |
33.946 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
539.737 |
294.439 |
198.606 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
22.940 |
|
|
TOTAL BORROWING |
539.737 |
294.439 |
221.546 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
578.202 |
332.355 |
255.492 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
272.972 |
116.342 |
62.147 |
|
|
Capital work-in-progress |
1.131 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
155.479
|
132.885 |
118.225 |
|
|
Sundry Debtors |
134.195
|
84.305 |
101.170 |
|
|
Cash & Bank Balances |
2.322
|
3.264 |
2.586 |
|
|
Other Current Assets |
0.765
|
29.006 |
0.063 |
|
|
Loans & Advances |
86.766
|
30.285 |
27.550 |
|
Total
Current Assets |
379.527
|
279.745 |
249.594 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
46.753
|
51.368 |
47.335 |
|
|
Other Current Liabilities |
25.216
|
6.752 |
7.510 |
|
|
Provisions |
3.459
|
5.612 |
1.404 |
|
Total
Current Liabilities |
75.428
|
63.732 |
56.249 |
|
|
Net Current Assets |
304.099
|
216.013 |
193.345 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
578.202 |
332.355 |
255.492 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
782.643 |
651.606 |
601.836 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
782.643 |
651.606 |
601.836 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
710.129 |
616.382 |
575.216 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
710.129 |
616.382 |
575.216 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
72.514 |
35.224 |
26.620 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
41.921 |
15.486 |
12.604 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
30.593 |
19.738 |
14.016 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
40.043 |
13.768 |
8.831 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(9.450) |
5.970 |
5.185 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(5.380) |
2.000 |
1.729 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(4.070) |
3.970 |
3.456 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
14.981 |
11.011 |
7.555 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
10.911 |
14.981 |
11.011 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
469.899 |
316.167 |
310.481 |
|
|
TOTAL EARNINGS |
469.899 |
316.167 |
310.481 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
52.066 |
0.000 |
NA |
|
|
|
Stores & Spares |
0.000 |
0.000 |
NA |
|
|
|
Capital Goods |
60.526 |
49.776 |
NA |
|
|
TOTAL IMPORTS |
112.592 |
49.776 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
12.36 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(0.52)
|
0.61 |
0.57 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.46)
|
1.51 |
1.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.25)
|
0.16 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
15.99
|
9.45 |
8.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.03
|
4.39 |
4.44 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
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 |
TURNOVER AND EXPORTS
During the year 2011-2012, Sales of Yarn have been increased by 19.35% from Rs.634.639 Millions in the year 2010-2011 to Rs.757.205 Millions. The Company has earned a cash profit of Rs.30.592 Millions during the year 2011-12, as compared to the Cash Profit of Rs.19.739 Millions in the year 2010 - 2011 and there by an increase of 55%. In the year 2011-2012, the company has incurred Loss due to the claim of depreciation only even in the worst scenario in Textile Industries amounting to Rs.9.451 Millions.
TURNOVER 2011-2012
The Company made an export sales of Rs.534.384 Millions during the year. During the year, the company mainly exported to USA, Indonesia, Sri Lanka, Myanmar, Nepal, China, Pakistan and Bangladesh. It is also planned to expand its Sales Territory not only at above said countries but also at World wide. Besides, the export performance of the company was increased by 36.40% from Rs.391.765 Millions during 2010-2011 to Rs.534.384 Millions in 2011-2012.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U17116TN1996PTC036146 |
|
Name of the
company |
S.A.AANANDAN
SPINNING MILLS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Post Box No: 153, Srivilliputtur Road,, District Kamarajar Rajapalaiyam - 626117, Tamilnadu, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
90294035 |
|
Type of charge |
· Immovable property · Book debts ·
Movable property (not being pledge) |
|
Particular of
charge holder |
State Bank of India, Commercial Branch, Sankarankoil Road, Rajapalayam - 626117, Tamilnadu, India |
|
Nature of
instrument creating charge |
1.Supplemental
Agreement of Loan for increase in the Overall Limit 2.Supplemental
Agreement of Hypothecation of Goods and Assets for increase in the Overall
Limit 3.Letter regarding
the Grant of individual Limits within the Overall Limit 4.No instrument
is executed, Letters confirming Extension of Equitable Mortgage by deposit of
title deeds of the Company's immovable properties |
|
Date of
instrument Creating the charge |
24.02.2012 |
|
Amount secured by
the charge |
Rs.734.200
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Terms of
Repayment Margin 1.RM/FG/BG - 25% 2.Stock in
process/Receivables - 30% 3.Consumables/Spares/Stores
- 50% 4.LC - 10% Extent and Operation of the charge Exclusive 1st
charge by way of Hypothecation
of present and future stocks, BD, other CA and movable FA (incl.M/c) to secure
Rs.706.200 Millions of Company and by way of EM of immovable properties of
the Company. FVG BK as continuing security for an increased OL of Rs.734.200
Millions (comprising Rs.706.200 Millions sanctioned to the Company, and
Rs.28.000 Millions sanctioned to its group concern M/s Unnamalai Spg Mills)
together with interest and all other monies due from Company and its group
concern to the BK. Others Cover Period for
Receivables - 60 Days |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of Stocks, Book Debts, Machinery, Current Assets and EM on Company's Immovable Properties. |
|
Date of
instrument modifying the charge |
24.11.2010 |
|
Particulars of the
present modification |
OL is increased
from Rs.673.200 Millions to Rs.734.200 Millions comprising Rs.706.200
Millions sanctioned to the company and Rs.28.000 Millions sanctioned to its
group concern Unnamalai SPG Mills. Hypothecation of ST. BD m/c and other movable assets
extended to secure Rs.706.200 Millions of Company and EM on immovable
properties belonging to the Company extended to secure the increased OL of
Rs.734.200 Millions together with interest, commission, cost, charges and
other expenses which may accrue and/or be debited to the Co's accounts from
time to time. |
FIXED ASSETS
· Land
· Building
· Plant and Machinery
· Electrical Installations
· Vehicles
· Furniture and Fittings
· Office Equipment
· Air Conditioner
· Computer
· RO Plant
· Disa Tank
· Water Storage Tank
· Weighment Scafe
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.53.85 |
|
|
1 |
Rs.85.26 |
|
Euro |
1 |
Rs.71.72 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
27 |
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.