|
Report Date : |
31.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
SIDHIVINAYAK COTSPIN LIMITED |
|
|
|
|
Registered
Office : |
Vill. Fatehpur Patiala Road, Samana – 147101, Punjab |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
16.08.2004 |
|
|
|
|
Com. Reg. No.: |
16-027403 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.69.996
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18100PB2004PLC027403 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAICS3095A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Superior Quality yarn. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 390000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track record.
Reserves of the company appears to be low. 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
cautions. |
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 DECLINED BY
|
Name : |
Mr. S.P. Garg |
|
Designation : |
Director |
|
Contact No.: |
91-9814040845 |
|
Date : |
24.01.2013 |
LOCATIONS
|
Registered Office : |
Vill. Fatehpur Patiala Road, Samana – 147101, Punjab, India |
|
Tel. No.: |
91-1764-228411/ 224411 |
|
Mobile No.: |
91-9814040845 (Mr. S.P. Garg) |
|
Fax No.: |
91-1764-228411 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 26.09.2012
|
Name : |
Mr. Rajinder Kumar |
|
Designation : |
Whole-time director |
|
Address : |
358, Sbop Street, Samana - 147101, Patiala, Punjab |
|
Date of Birth : |
14.02.1964 |
|
Date of Appointment : |
16.08.2004 |
|
DIN No.: |
00128297 |
|
|
|
|
Name : |
Mr. Gora Lal |
|
Designation : |
Whole-time director |
|
Address : |
Gobindpura Basti, Sangrur – 148001, Punjab India |
|
Date of Birth : |
22.03.1958 |
|
Date of Appointment : |
16.08.2004 |
|
DIN No.: |
00029435 |
|
|
|
|
Name : |
Mr. Sukhdarshan Pal |
|
Designation : |
Whole-time director |
|
Address : |
Gobindpura Basti, Sangrur – 148001, Punjab India |
|
Date of Appointment : |
16.08.2004 |
|
DIN No.: |
00029459 |
|
|
|
|
Name : |
Mr. Sushpal Garg |
|
Designation : |
Whole-time director |
|
Address : |
Gobindpura Basti, Sangrur – 148001, Punjab India |
|
Date of Birth : |
04.11.1975 |
|
Date of Appointment : |
16.08.2004 |
|
DIN No.: |
00029479 |
|
|
|
|
Name : |
Mr. Vipan Kumar |
|
Designation : |
Whole-time director |
|
Address : |
Gobindpura Basti, Sangrur – 148001, Punjab India |
|
Date of Birth : |
23.07.1977 |
|
Date of Appointment : |
16.08.2004 |
|
DIN No.: |
00029512 |
MAJOR SHAREHOLDERS
As on: 26.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Sh. Rajinder Gupta S/o Sh. Chanan Ram |
|
479400 |
|
Sh. Gora Lai Singla S/o Sh. Atma Ram |
|
336900 |
|
Sh. Sukhdarshan Pal Singla S/o Sh. Atma Ram |
|
345100 |
|
Dr. Sushpal Garg S/o Sh. Tarsem Chand |
|
482800 |
|
Sh. Vipan kumar Garg S/o Sh. Tarsem Chand |
|
333600 |
|
Sh. Chanan Ram Gupta S/o Sh. Gopi Ram |
|
67500 |
|
Sh. Tarsem Chand Garg S/o Sh. Kaur Sain |
|
315000 |
|
Smt. Angrej Kaur W/o Sh. Pritpal Singh |
|
4000 |
|
Sh. Ajit Singh S/o Sh. Surat Singh |
|
21250 |
|
Sh. Akhil Kumar S/o Sh. V.N. Goyal |
|
21250 |
|
Ms. Amarjit Kaur D/o Sh. Jagmail Singh |
|
4000 |
|
Sh. Aneet Singh S/o Sh. Chaman Lai |
|
21250 |
|
Sh. Anil kumar Dhingra S/o Sh. Ladhu Ram |
|
30000 |
|
Sh. Ashok Kumar S/o Sh. Maman Chand |
|
25000 |
|
Sh. Ashok Kumar S/o Sh. Fakir Chand |
|
25000 |
|
Sh. Bagga Singh S/o Sh. Mohinder Singh |
|
4500 |
|
Sh. Bahadar Singh S/o Sh. Karnail Singh |
|
30000 |
|
Sh. Baljit Singh S/o Sh. Mohinder Singh |
|
10000 |
|
Sh.Balraj Jain S/o Sh. B.S. Jain |
|
25000 |
Equity Share Break up (Percentage of Total Equity)
As on: 26.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
50.00 |
|
Other top fifty shareholders |
30.00 |
|
Others |
20.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Superior Quality yarn. |
|
|
|
|
Products : |
· Cotton Yarn · Organic Cotton Yarn · Natural Cotton Yarn · Poly Cotton Yarns · Pure Cotton Yarns · Viscose Cotton Yarns · Cotton Blended Yarns · Weaving Cotton Yarns |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|||||||||||||||||||||
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|||||||||||||||||||||
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Bankers : |
State Bank Of India, Patiala Gate, Sangrur - 148001, Punjab, India |
|||||||||||||||||||||
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|
|||||||||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
H. R. Mittal and Company Chartered Accountants |
|
Address : |
Tehsil Road, Samana – 147101, Punjab, India |
|
Tel. No.: |
91-1764-220959/ 500159 |
|
PAN.: |
AABFH4801M |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs.70.000 Millions |
|
|
|
|
|
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6999600 |
Equity Shares |
Rs.10/- each |
Rs.69.996
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 |
69.996 |
69.996 |
69.996 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
28.606 |
26.292 |
22.898 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
98.602 |
96.288 |
92.894 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
78.482 |
87.987 |
103.001 |
|
|
2] Unsecured Loans |
3.444 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
81.926 |
87.987 |
103.001 |
|
|
DEFERRED TAX LIABILITIES |
5.751 |
5.996 |
6.249 |
|
|
|
|
|
|
|
|
TOTAL |
186.279 |
190.271 |
202.144 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
97.722 |
97.333 |
110.384 |
|
|
Capital work-in-progress |
0.000 |
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 |
77.025
|
64.509 |
68.232 |
|
|
Sundry Debtors |
14.781
|
13.987 |
8.808 |
|
|
Cash & Bank Balances |
3.935
|
7.773 |
8.162 |
|
|
Other Current Assets |
9.631
|
22.282 |
8.069 |
|
|
Loans & Advances |
10.524
|
7.194 |
14.960 |
|
Total
Current Assets |
115.896
|
115.745 |
108.231 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
9.709
|
6.493 |
6.493 |
|
|
Other Current Liabilities |
14.234
|
12.273 |
0.781 |
|
|
Provisions |
3.396
|
4.041 |
9.197 |
|
Total
Current Liabilities |
27.339
|
22.807 |
16.471 |
|
|
Net Current Assets |
88.557
|
92.938 |
91.760 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
186.279 |
190.271 |
202.144 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
353.031 |
358.343 |
280.886 |
|
|
|
Other Income |
1.768 |
2.402 |
26.386 |
|
|
|
TOTAL (A) |
354.799 |
360.745 |
307.272 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
334.373 |
270.290 |
254.478 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(55.093) |
11.212 |
|
|
|
|
Employee benefit expense |
3.820 |
3.183 |
|
|
|
|
Other expenses |
44.634 |
48.209 |
|
|
|
|
TOTAL (B) |
327.734 |
332.894 |
254.478 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
27.065 |
27.851 |
52.974 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
10.484 |
8.397 |
9.296 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
16.581 |
19.454 |
43.498 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
13.230 |
14.211 |
16.392 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3.351 |
5.243 |
27.106 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.035 |
1.849 |
8.181 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2.316 |
3.394 |
18.925 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.33 |
0.48 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.65
|
0.94 |
6.16 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.94
|
1.46 |
9.65 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.57
|
2.46 |
12.40 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.05 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.83
|
0.91 |
1.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.24
|
5.07 |
6.57 |
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 |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
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 |
UNSECURED LOAN:
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long Term
Borrowings |
|
|
|
Other loans and advances |
3.444 |
0.000 |
|
Total |
3.444 |
0.000 |
BANKERS CHARGES
REPORT AS PER REGISTRY:
|
Corporate
identity number of the company |
U18100PB2004PLC027403 |
|
Name of the
company |
SIDHI VINAYAK COTSPIN LIMITED |
|
Address of the
registered office or of the principal place of business in |
Patiala, Roadsamana, District Patiala, Punjab, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
90174504 |
|
Type of charge |
· Immovable Property · Book Debts · Movable Property (Not Being Pledge) · Others (All types of stocks of the company) |
|
Particular of charge
holder |
State Bank Of India, Patiala Gate, Sangrur - 148001, Punjab, India |
|
Nature of
instrument creating charge |
Supplemental agreement of loan for increase in the overall limit and Letter regarding grant of individual limits within the overall limit. |
|
Date of
instrument Creating the charge |
20.07.2011 |
|
Amount secured by
the charge |
Rs.147.200 Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest C/C at 2.40% above BR i.e. 11.65%, Adhoc C/c @ 6.75% above BR i.e. 16.00% , TL-1, 2,3 and 4 at 2.90% above BR i.e. 12.15%. Present base rate is 9.25% p.a. Terms of Repayment C/c and adhoc limit of Rs. 75.000 Million repayable on demand. TL-1 of Rs. 59.000 Millions (O/s Rs. 7.600 Millions) repayable in 25 quarters (First 24 of Rs. 2.400 Milliions each and the last of Rs. 1.400 Millions) + Intt. w.e.f. Mar., 2006. TL-2 of Rs. 57.500 Millions (O/s Rs. 33.300 Millions) repayable in 24 quarters of Rs. 2.4000 Millions each + Intt. w.e.f. Dec., 2008. TL-3 of Rs. 10.000 Millions repayable in 17 quarters of Rs. 0.588 Million each + Intt. w.e.f. Sep., 2011. TL-4 of Rs. 2.500 Millions repayable in 16 quarters of Rs. 0.156 Millions each w.e.f. Mar. 2012. Margin Stocks - 25%, Book Debts 40%,Term loan (Old) - 40% and Term loan (New) 27.33%. Extent and
Operation of the charge 100% |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
· First charge on all the present and future fixed assets of the company including P and M and equitable mortgage of factory land and building measuring 24550 Sq. Yd. situated at Patiala Road, Samana. · Hypothecation of all types of Raw materials, stock in process, Finished goods, Stores and spares, Receivables and other current assets of the company. |
|
Date of
instrument modifying the charge |
19.03.2011 |
|
Particulars of
the present modification |
T/L-3 of Rs. 10.000 Millions and T/L-4 of Rs. 2.500 Millions revalidated, One time FLC 1 and FLC 2 enhanced to Rs. 14.200 Millions and Rs. 3.600 Millions respectively. Existing term loans 1 and 2 of Rs. 59.000 Millions and 57.500 Millions reduced to present outstanding of Rs. 7.600 Millions and Rs. 33.300 Millions. An adhoc limit of Rs. 10.000 Millions sanctioned in addition to regular C/c limit of Rs. 65.000 Millions. Bank Gurantee limit of Rs. 1.000 Millions remains the same. |
FIXED ASSETS:
· Land
· Buildings
· Plant and equipment
· 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 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.53.70 |
|
|
1 |
Rs.84.35 |
|
Euro |
1 |
Rs.72.21 |
INFORMATION DETAILS
|
Information Gathered
by : |
PJA |
|
|
|
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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.