MIRA
INFORM REPORT
|
Report Date : |
17.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
TEXSA INDIA LIMITED |
|
|
|
|
Registered
Office : |
345, Ground Floor, Udyog Vihar, Phase-II, Gurgaon–122016, Haryana |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
03.04.2000 |
|
|
|
|
Com. Reg. No.: |
05-034907 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.10.545
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51432hr2000plc034907 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Rtks07017d |
|
|
|
|
PAN No.: [Permanent Account No.] |
Aaecs3408b |
|
|
|
|
Legal Form : |
A Closely held Public Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Waterproofing Materials,
Thermal Insulation and Acoustic Insulation Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 120000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of ‘Texas S.A’. It is an established company
having a moderate track record. There appear huge external borrowings recorded by the company. The
profitability also appears low. However, trade relations are reported as fair. Business is active.
Payment terms are 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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. Daksh Wadhwa |
|
Designation : |
Secretary |
|
Contact No.: |
91-124-4052078 |
|
Date : |
14.06.2013 |
LOCATIONS
|
Registered Office : |
345, Ground Floor, Udyog Vihar, Phase-II, Gurgaon –
122016, Haryana, India |
|
Tel. No.: |
91-124-4052078/ 79 |
|
Fax No.: |
91-124-4052080 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Fransisco De Paula Valls Albert |
|
Designation : |
Managing director |
|
Address : |
Josep Visens Foix 1H, Vilassar De Delt |
|
Date of Birth/Age : |
01.07.1942 |
|
Date of Appointment : |
21.10.2000 |
|
DIN No.: |
00381808 |
|
|
|
|
Name : |
Mr. Joao Paulo Marques Gonsalves |
|
Designation : |
Director |
|
Address : |
Rua Padre Cruz 13 Casais De Mem Martins Mem Martins 2725 |
|
Date of Birth/Age : |
09.07.1988 |
|
Date of Appointment : |
09.09.2004 |
|
Date of Cessation : |
10.05.2013 |
|
DIN No.: |
00381619 |
|
|
|
|
Name : |
Mr. Subramanian Bhanusekar |
|
Designation : |
Whole-time director |
|
Address : |
22, Chokkalingam Nagar, Mahadev Flats, Chennai – 600086, Tamilnadu,
India |
|
Date of Birth/Age : |
02.10.1949 |
|
Date of Appointment : |
21.06.2011 |
|
Date of Cessation : |
27.11.2012 |
|
DIN No.: |
03369832 |
NOTE: Other director’s name not divulged
KEY EXECUTIVES
|
Name : |
Mr. Daksh Wadhwa |
|
Designation : |
Secretary |
|
Address : |
C -7/118 A, Keshav Puram New Delhi – 110035, India |
|
Date of Birth/Age : |
21.05.1979 |
|
Date of Appointment : |
01.09.2006 |
|
PAN No.: |
AANPW6293J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Wadhwa Daksh |
20 |
|
Singh Charan Vishnu |
20 |
|
Mahay Shalini |
20 |
|
Suri Priti |
20 |
|
Texsa Synthetics |
20 |
|
Bahadur Surya |
20 |
|
Texswa S A, Spain |
1054363 |
|
TOTAL
|
1054483 |
AS ON 29.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
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 |
|
Other top fifty shareholders |
0.01 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Waterproofing Materials,
Thermal Insulation and Acoustic Insulation Products. |
||||||||
|
|
|
||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
· State Bank of Bikaner and Jaipur, S.M.S Highway Branch, Chaura Rasta, Jaipur - 302003, Rajasthan, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
T.R Chadha and Company Chartered Accountants |
|
Address : |
B-30, Connaugt Place, Kuthiala Building, New Delhi -110001, India |
|
PAN No.: |
AAAFT1655Q |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1054483 |
Equity Shares |
Rs.10/- each |
Rs. 10.545
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
10.545 |
10.545 |
|
(b) Reserves & Surplus |
|
19.705 |
19.577 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
|
|
|
|
|
(3)
Non-current liabilities |
|
|
|
|
(a) long-term borrowings |
|
205.021 |
94.860 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
3.688 |
3.787 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term
borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
109.977 |
110.102 |
|
(c) Other current
liabilities |
|
33.599 |
17.858 |
|
(d) Short-term provisions |
|
3.717 |
2.367 |
|
TOTAL |
|
386.252 |
259.096 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
19.031 |
19.029 |
|
(ii) Intangible Assets |
|
0.015 |
0.004 |
|
(iii) Capital
work-in-progress |
|
162.837 |
68.370 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
7.638 |
6.445 |
|
(d) Long-term Loan and Advances |
|
23.766 |
18.732 |
|
(e) Other Non-current assets |
|
0.246 |
0.091 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
62.763 |
53.480 |
|
(c) Trade receivables |
|
57.957 |
52.712 |
|
(d) Cash and cash
equivalents |
|
39.460 |
29.453 |
|
(e) Short-term loans
and advances |
|
1.443 |
2.379 |
|
(f) Other current
assets |
|
11.096 |
8.401 |
|
TOTAL |
|
386.252 |
259.096 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
10.545 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
19.300 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
29.845 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
12.112 |
|
|
TOTAL BORROWING |
|
|
12.112 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
41.957 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
18.701 |
|
|
Capital work-in-progress |
|
|
0.138 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
3.124 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
28.704 |
|
|
Sundry Debtors |
|
|
43.226 |
|
|
Cash & Bank Balances |
|
|
23.296 |
|
|
Other Current Assets |
|
|
0.031 |
|
|
Loans & Advances |
|
|
12.212 |
|
Total
Current Assets |
|
|
107.469 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
72.988 |
|
|
Other Current Liabilities |
|
|
9.193 |
|
|
Provisions |
|
|
5.294 |
|
Total
Current Liabilities |
|
|
87.475 |
|
|
Net Current Assets |
|
|
19.994 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
41.957 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
262.477 |
229.829 |
207.103 |
|
|
|
Other Income |
2.022 |
1.176 |
13.011 |
|
|
|
TOTAL (A) |
264.499 |
231.005 |
220.114 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Stock In Trade |
206.789 |
189.614 |
|
|
|
|
Employee Benefit Expenses |
22.768 |
22.298 |
|
|
|
|
Other Expenses |
35.137 |
38.652 |
|
|
|
|
(Increase) / Decrease in Closing Stock |
(5.272) |
(24.775) |
|
|
|
|
TOTAL (B) |
259.422 |
225.789 |
188.769 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
5.077 |
5.216 |
31.345 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.303 |
2.823 |
1.140 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.774 |
2.393 |
30.205 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.490 |
0.477 |
0.541 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
0.284 |
1.916 |
29.664 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.156 |
1.640 |
10.479 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
0.128 |
0.276 |
19.185 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
19.576 |
19.300 |
0.115 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
19.704 |
19.576 |
19.300 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Reimbursement of Expenses |
NA |
0.000 |
0.418 |
|
|
|
Commission Income |
NA |
0.770 |
0.000 |
|
|
TOTAL EARNINGS |
NA |
0.770 |
0.418 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Finished Goods |
NA |
141.498 |
108.832 |
|
|
TOTAL IMPORTS |
NA |
141.498 |
108.832 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
0.12 |
0.26 |
18.19 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.05
|
0.12 |
8.72 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.11
|
0.83 |
14.32 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.13
|
1.04 |
23.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.06 |
0.99 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
6.78
|
3.15 |
0.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17
|
1.12 |
1.23 |
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 |
No |
|
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) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
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 |
FACILITIES
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
LONG TERM
BORROWINGS |
|
|
|
Term Loans from
Related Parties |
|
|
|
External Commercial Borrowings in EURO |
205.021 |
94.860 |
|
|
|
|
|
TOTAL |
205.021 |
94.860 |
BACKGROUND
Subject is in the business of selling products for roofing/
waterproofing, thermal and acoustic insulation and geotextiles, as well as the corresponding
auxiliary materials for each of these fields, for building and civil works.
Subject is a part of the Texsa Group founded in 1954, in Barcelona, Spain
OPERATING RESULTS
Year 2011-2012 was
a tough year the Company has faced stiff competition from competitors on one
hand and increased in product cost, due to recession in Europe and Rupee
Depreciate, on the other hand, squeezing the company margins. Facing all these
odds, the total income of the Company has increased by 15% from Rs. 231.006 Millions
to Rs. 264.500 Millions. And, the Operating Profit before Depreciation and Tax
has been witnessed a marginal profit of Rs. 0.285 Million as compare to profit
of Rs. 2.393 Millions last year. Profit after Tax has also witnessed a profit
of Rs. 0.128 Million as compare to Rs. 0.277 Million last year.
The Membrane
Manufacturing Plant at Manda, District Jaipur. Construction has been completed
and trial – run of production is going –on and expected to start commercial
production by end of next month i.e. October, 12.
FORM 8
|
Corporate
identity number of the company |
U51432HR2000PLC034907 |
|
Name of the
company |
TEXSA INDIA
LIMITED |
|
Address of the
registered office or of the principal place of business in |
345, Ground Floor, Udyog Vihar, Phase-Ii, Gurgaon – 122016, Haryana, India |
|
This form is for |
Creation of charge |
|
Type of charge |
· Immovable property · Book debts · Movable property (not being pledge) |
|
Particular of
charge holder |
State Bank Of Bikaner and Jaipur, S.M.S Highway Branch, Chaura Rasta, Jaipur - 302003, Rajasthan, India |
|
Nature of
instrument creating charge |
Sanction letter dated 03-01-2013 Letter regarding the grant of individual limit within overall limit Agreement of loan for overall limit Agreement of hypothecation of goods and assets Board resolution dated 8 January, 2013 Declaration of mortgage |
|
Date of
instrument Creating the charge |
19.01.2013 |
|
Amount secured by
the charge |
Rs.101.200
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 2.75% above base
rate Terms of Repayment On demand Margin Raw Material -
25% Stock In Process
- 25% Finished Goods -
25% Store - 25% Book Debts - 40% Extent and Operation of the charge First charge by
way of hypothecation of entire assets of company including stocks and book
debts. Equitable mortgage
of leasehold land and building thereon in the name of the company situated at
a-127, Riico Industrial Area, Manda, Chomu, Jaipur admeasuring 15000.00 sq.
Mtrs. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
First charge by
way of hypothecation of entire assets of the company including stocks and
book debts Equitable
mortgage of leasehold land building thereon in the name of the company
situated at a-127, RIICO Industrial
Area, Manda, Chomu, Jaipur admeasuring 15000.00 sq. Mtrs. |
FIXED ASSETS
· Furniture and Fixtures
· Computers
· Office equipments
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. 57.74 |
|
|
1 |
Rs. 90.64 |
|
Euro |
1 |
Rs. 77.02 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.