1. Summary Information
|
|
|
Country |
|
|
Company Name |
REICHHOLD INDIA
PRIVATE LIMITED |
Principal Name 1 |
Mr. Alok Gupta |
|
Status |
Moderate |
Principal Name 2 |
Mr. Alberto Piccinotti |
|
|
|
Registration # |
25-132410 |
|
Street Address |
201, Block – A,
Trade Centre, North Main Road, Koregaon Park, Pune – 411001, Maharashtra |
||
|
Established Date |
08.02.2007 |
SIC Code |
-- |
|
Telephone# |
91-20-66440000 /15/16/26150074 |
Business Style 1 |
Manufacture |
|
Fax # |
91-20-26150072 |
Business Style 2 |
Market and Sell |
|
Homepage |
Product Name 1 |
Specialty Resins for the Composites |
|
|
# of employees |
--- |
Product Name 2 |
Coatings Market |
|
Paid up capital |
Rs.
249,060,000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign Holdings (FIIs, FCs, FFIs, NRIs, OCB or Others) = 100 % |
Banking |
-- |
|
Public Limited Corp. |
--- |
Business Period |
5 Years |
|
IPO |
--- |
International Ins. |
- |
|
Public |
--- |
Rating |
Ca (14) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding
Company |
Mauritius |
Reichhold Mauritius Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
305,972,000 |
Current Liabilities |
126,284,000 |
|
Inventories |
68,662,000 |
Long-term Liabilities |
718,715,000 |
|
Fixed Assets |
587,011,000 |
Other Liabilities |
110,907,000 |
|
Deferred Assets |
00,000 |
Total Liabilities |
955,906,000 |
|
Invest& other Assets |
5,429,000 |
Retained Earnings |
(409,496,000) |
|
|
|
Net Worth |
11,168,000 |
|
Total Assets |
967,074,000 |
Total Liab. & Equity |
967,074,000 |
|
Total Assets (Previous Year) |
951,970,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
754,048,000 |
Net Profit/(Loss) |
(238,151,000) |
|
Sales(Previous yr) |
380,022,000 |
Net Profit/(Loss)
(Prev.yr) |
(119,574,000) |
MIRA
INFORM REPORT
|
Report Date : |
31.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
REICHHOLD INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
201, Block – A, 2nd Floor, Trade Centre, North Main Road,
Koregaon Park, Pune – 411001, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
08.02.2007 |
|
|
|
|
Com. Reg. No.: |
25-132410 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 249.060 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24132PN2007PTC132410 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNER09447E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCR7123F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
To Manufacture, Market and Sell Specialty Resins for the Composites
and Coatings Market in |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (18) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Reichhold Group worldwide. It is an established company having a moderate track record. There appears
huge accumulated losses recorded by the company. Profitability is under
pressure. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow. The company can be considered for business dealings on a safe and
secured trade terms and condition. |
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) |
|
|
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
|
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 : |
201, Block – A, 2nd Floor, Trade Centre, North Main Road,
Koregaon Park, Pune – 411001, Maharashtra, India |
|
Tel. No.: |
91-20-66440000/15/16/26150074 |
|
Fax No.: |
91-20-26150072 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Commercial Office : |
810, “Meadows”, Sahar Plaza Complex, Andheri Kurla Road, Andheri,
Mumbai – 400 059, Maharashtra, India |
|
Tel. No.: |
91-22-42563333 |
|
Fax No.: |
91-22-42563317 |
|
|
|
|
Factory : |
F – 38, MIDC, Ranjangaon Industrial Area, Taluka – Shirur, District
Pune – 412 220, Maharashtra, India |
|
Tel. No.: |
91-21-38675000 |
|
Fax No.: |
91-20-26150074 |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Alok Gupta |
|
Designation : |
Managing Director |
|
Address : |
104, Saisyleka Apartment, Mount Pleasant Road, Malabar Hill, Mumbai –
400006, Maharashtra, India |
|
Date of Birth/Age : |
07.09.1957 |
|
Date of Appointment : |
27.06.2011 |
|
DIN No.: |
00288883 |
|
PAN No.: |
AACPG8685R |
|
|
|
|
Name : |
Mr. Alberto Piccinotti |
|
Designation : |
Director |
|
Address : |
Bisuschio (VA), Bisuschio, 21050, |
|
Date of Birth/Age : |
11.10.1959 |
|
Date of Appointment : |
06.10.2007 |
|
DIN No.: |
01891499 |
|
|
|
|
Name : |
Mr. Roger Willis London |
|
Designation : |
Director |
|
Address : |
2600, |
|
Date of Birth/Age : |
22.09.1952 |
|
Date of Appointment : |
22.05.2007 |
|
DIN No.: |
01928442 |
|
|
|
|
Name : |
Ms. Mitzi Ashida Van Leeuwen |
|
Designation : |
Director |
|
Address : |
214 Beringer PL, Chappel Hill NC 27516, State of North California,
8732, USA |
|
Date of Birth/Age : |
01.09.1963 |
|
Date of Appointment : |
20.03.2009 |
|
DIN No.: |
02591307 |
|
|
|
|
Name : |
Mr. Aman Kohli |
|
Designation : |
Director |
|
Address : |
Building L 12, Flat No. 21, Sakal Nagar, Baner Road, Pune – 411 007,
Maharashtra, India |
|
Date of Birth/Age : |
16.12.1971 |
|
Date of Appointment : |
20.03.2009 |
|
DIN No.: |
02595537 |
|
|
|
|
Name : |
Ms. Elizabeth Howe Cassidy |
|
Designation : |
Director |
|
Address : |
3514 IVA ADR Dr. Hillsborough NC 27278-9404. NC,9404, United States
of America |
|
Date of Birth/Age : |
17.07.1958 |
|
Date of Appointment : |
11.05.2011 |
|
DIN No.: |
03523947 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Reichhold Mauritius Limited, Mauritius |
|
37163439 |
|
Reichhol Holdings International BV, Netherlands |
|
10 |
|
|
|
|
|
TOTAL |
|
37163449 |
As on 12.12.2012
|
Names of Allottees |
|
No. of Shares |
|
|
|
|
|
Reichhold Mauritius Limited, Mauritius |
|
7632028 |
|
|
|
|
|
TOTAL |
|
7632028 |
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 |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
To Manufacture, Market and Sell Specialty Resins for the Composites
and Coatings Market in |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
706-B wing, 7th Floor, |
|
Tel. No.: |
91-20-66244600 |
|
Fax No.: |
91-20-66244605 |
|
PAN No.: |
AACPJ9815E |
|
|
|
|
Ultimate Holding Company : |
Reichhold Holdings International BV, Netherlands |
|
|
|
|
Holding Company : |
Reichhold Mauritius Limited, Mauritius |
|
|
|
|
Fellow Subsidiaries : |
·
Reichhold Inc. ( USA), USA ·
Reichhold, Inc. (UAE), UAE ·
Reichhold UK Limited, UK ·
Reichhold AS, Norway ·
Reichhold CZ, Russia ·
Reichhold Inc. ( Parma), Italy ·
Reichhold SAS, France ·
Reichhold Denmark AS, Denmark ·
Reichhold Finance BV, Netherland ·
Reichhold Holdings
International BV, Netherland ·
Reichhold Polymers (Tianjin) Limited, China |
CAPITAL STRUCTURE
As on 31.03.2012
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24906002 |
Equity Shares |
Rs. 10/- each |
Rs. 249.060 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24906002 |
Equity Shares |
Rs. 10/- each |
Rs. 249.060 millions |
|
|
|
|
|
After on
29.09.2012
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs. 10/- each |
Rs. 500.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
44795477 |
Equity Shares |
Rs. 10/- each |
Rs. 447.955
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 |
249.060 |
184.060 |
184.060 |
|
|
2] Share Application Money |
171.604 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
(409.496) |
(197.344) |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
11.168 |
(13.284) |
184.060 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
718.715 |
740.750 |
0.000 |
|
|
TOTAL BORROWING |
718.715 |
740.750 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
729.883 |
727.466 |
184.060 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
587.011 |
631.657 |
0.000 |
|
|
Capital work-in-progress |
5.429 |
2.365 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
68.662
|
63.886
|
0.000 |
|
|
Sundry Debtors |
175.120
|
171.011
|
0.000 |
|
|
Cash & Bank Balances |
15.012
|
6.401
|
0.000 |
|
|
Other Current Assets |
0.506
|
0.255
|
0.000 |
|
|
Loans & Advances |
115.334
|
76.395
|
0.000 |
|
Total
Current Assets |
374.634
|
317.948
|
0.000 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
126.284
|
145.346
|
0.000 |
|
|
Other Current Liabilities |
108.042
|
78.528
|
0.000 |
|
|
Provisions |
2.865
|
0.630
|
0.000 |
|
Total
Current Liabilities |
237.191
|
224.504
|
0.000 |
|
|
Net Current Assets |
137.443
|
93.444
|
0.000 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
184.060 |
|
|
|
|
|
|
|
|
TOTAL |
729.883 |
727.466 |
184.060 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
746.854 |
377.721 |
76.830 |
|
|
|
Other Income |
7.194 |
2.301 |
24.820 |
|
|
|
TOTAL |
754.048 |
380.022 |
101.650 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
992.200 |
499.596 |
178.970 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX |
(238.151) |
(119.574) |
(77.320) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.450 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER TAX |
(238.151) |
(119.574) |
(77.770) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Sales |
0.557 |
0.000 |
NA |
|
|
|
Sale of Samples |
0.034 |
0.063 |
NA |
|
|
TOTAL EARNINGS |
0.591 |
0.063 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Components |
34.179 |
17.422 |
NA |
|
|
|
Stores & Spares |
0.000 |
4.006 |
NA |
|
|
TOTAL IMPORTS |
34.179 |
21.428 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss) Per Share (Rs.) |
(11.57) |
(6.50) |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(31.58)
|
(31.46) |
(76.51) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(31.88)
|
(31.66) |
(100.63) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(24.76)
|
(12.59) |
(0.00) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(21.32)
|
9.00 |
(0.42) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
64.35
|
(55.76) |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.57
|
1.42 |
0.00 |
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 |
No |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOAN:
(Rs. in
Millions)
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
|
|
|
|
Term Loans from others |
704.615 |
620.750 |
|
Working Capital Loans from Banks |
14.100 |
120.000 |
|
|
|
|
|
Total |
718.715 |
740.750 |
COMPANY OVERVIEW
Subject is a
company registered under the provisions of the Companies Act, 1956. The Company
is incorporated on 8th February, 2007. The Company is a wholly owned
subsidiary of Reichhold Mauritius Limited, Mauritius which is a subsidiary of
Reichhold Holdings International BV, Netherlands, the ultimate holding company.
The Company had
completed the installation and commissioning of the manufacturing plant at
Ranjangaon in Pune District of Maharashtra state and started commercial
production with effect from 1st October 2009.
The Company
undertakes the business to manufacture market and sell specialty resins for the
composites market in India.
FIXED ASSETS:
- Furniture and Fixtures
- Office Equipments
- Data Processing Equipments
- Vehicles
- Plant and Equipment
- Buildings
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.53.57 |
|
|
1 |
Rs.84.37 |
|
Euro |
1 |
Rs.72.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
NID |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
18 |
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.