MIRA
INFORM REPORT
|
Report Date : |
18.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
TROPILITE FOODS PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
PURE INGREDIENTS PRIVATE LIMITED DAVARS ORGANICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Davars Campus , Tansen Nagar, |
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|
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|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2012 |
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|
|
|
Date of
Incorporation : |
12.11.1999 |
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|
|
|
Com. Reg. No.: |
10-013843 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.70.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51219MP1999PTC013843 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCP1412B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Distributor of Food Ingredients. |
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 523000 |
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|
|
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. Profit and loss statement as on 2012 is not made available to us. There appears a slight dip in the net profitability recorded during
2012. However, trade relations are fair. Business is active. Payment terms
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 – 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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Ratings: BB+ |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
December 12, 2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating: A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
December 12, 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/ Head Office : |
Davars Campus , Tansen Nagar, Gwalior – 474 002, Madhya Pradesh, India
|
|
Tel. No.: |
91-751-4093914/ 4056333/ 4056301-02 |
|
Fax No.: |
91-751-4056356 |
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E-Mail : |
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|
Website : |
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|
Sales Office : |
Located at: ·
Delhi ·
Ludhiana ·
Mumbai ·
Hyderabad ·
Bangalore |
DIRECTORS
As on 16.09.2011
|
Name : |
Dr. Gurdev Singh Davar |
|
Designation : |
Director |
|
Address : |
Davars Campus, Near Loco, Tansen Road, Gwalior – 474 002, Madhya
Pradesh, India |
|
Date of Birth/Age : |
03.04.1943 |
|
Date of Appointment : |
12.11.1999 |
|
DIN No.: |
00819155 |
|
PAN No.: |
ADFFP3433A |
|
|
|
|
Name : |
Mrs. Meera Davar |
|
Designation : |
Director |
|
Address : |
Davars Campus, Near Loco, Tansen Road, Gwalior – 474 002, Madhya
Pradesh, India |
|
Date of Birth/Age : |
31.10.1948 |
|
Date of Appointment : |
09.06.2011 |
|
DIN No.: |
01957364 |
|
PAN No.: |
ADWPD0083D |
|
|
|
|
Name : |
Mr. Puneet Davar |
|
Designation : |
Director |
|
Address : |
Davars Campus, Near Loco, Tansen Road, Gwalior – 474 002, Madhya
Pradesh, India |
|
Date of Birth/Age : |
29.12.1974 |
|
Date of Appointment : |
12.11.1999 |
|
DIN No.: |
00819091 |
|
PAN No.: |
ADFFP3433A |
|
|
|
|
Name : |
Mr. Hemendra Mathur |
|
Designation : |
Director |
|
Address : |
333, Pocket-E, Mayur Vihar, Phase-II, New Delhi – 110 091, India |
|
Date of Birth/Age : |
21.04.1972 |
|
Date of Appointment : |
09.06.2011 |
|
DIN No.: |
02447059 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 16.09.2011
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Gurdev Singh Davar |
|
50 |
|
Puneet Davar |
|
1100 |
|
G.S. Davar and Meera Davar (Jointly) |
|
2150 |
|
Puneet Davar HUF |
|
1400 |
|
Gurdev Singh Davar HUF |
|
300 |
|
Total
|
|
5000 |
|
Names of
Shareholders (Preference Shares) |
|
No.
of Shares |
|
Seaf India Agribusiness International Fund, Mauritius |
|
298120 |
|
Seaf India Investment Trust, India |
|
351880 |
|
Total
|
|
650000 |
As on 16.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Distributor of Food Ingredients. |
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Products : |
· Dairy Ingredients · Health Concepts · Bakery Ingredients · Non Dairy Toppings · Jellies Ripples Toppings · Ingredients for ketchup mayonnaise juices syrup |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
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Bankers : |
State Bank of
India, RMME, Zonal Office, City Centre, Gwalior – 474 011, Madhya Pradesh,
India |
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Facilities : |
|
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|
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Vidyarthi and Sons Chartered Accountants |
|
Address : |
L-3, Gandhi Nagar, Gwalior – 474 002, Madhya Pradesh, India |
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PAN No: |
ADFFP3433A |
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|
|
|
Enterprises which are owned, or have significant influence
of or are partners with Key management personnel and their relatives : |
·
Cold Storage and General Mills Private Limited,
India ·
Trees Retail Private Limited, India ·
Freeztech Logistics Private Limited, India |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6000 |
Equity Shares |
Rs.1000/- each |
Rs.6.000 millions |
|
650000 |
Preference Shares |
Rs.100/- each |
Rs.65.000 millions |
|
|
Total |
|
Rs.71.000
millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000 |
Equity Shares |
Rs.1000/- each |
Rs.5.000 millions |
|
650000 |
Preference Shares |
Rs.100/- each |
Rs.65.000 millions |
|
|
Total |
|
Rs.70.000
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 |
|
70.000 |
5.000 |
|
(b) Reserves & Surplus |
|
60.843 |
42.153 |
|
(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 |
|
15.036 |
23.556 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.438 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) Long-term provisions |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term borrowings |
|
65.367 |
32.665 |
|
(b) Trade payables |
|
44.829 |
39.214 |
|
(c) Other current
liabilities |
|
9.112 |
8.479 |
|
(d) Short-term provisions |
|
10.000 |
13.300 |
|
TOTAL |
|
275.187 |
164.805 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
40.762 |
26.633 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
|
4.381 |
6.509 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.189 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.506 |
0.105 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
77.427 |
58.811 |
|
(c) Trade receivables |
|
70.503 |
57.667 |
|
(d) Cash and cash equivalents |
|
57.560 |
3.647 |
|
(e) Short-term loans and
advances |
|
23.859 |
11.433 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
TOTAL |
|
275.187 |
164.805 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
5.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
18.409 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
23.409 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
29.239 |
|
|
2] Unsecured Loans |
|
|
12.850 |
|
|
TOTAL BORROWING |
|
|
42.089 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.870 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
66.368 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
19.947 |
|
|
Capital work-in-progress |
|
|
2.592 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
19.275 |
|
|
Sundry Debtors |
|
|
41.224 |
|
|
Cash & Bank Balances |
|
|
2.682 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
6.159 |
|
Total
Current Assets |
|
|
69.340 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
20.840 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
4.675 |
|
Total
Current Liabilities |
|
|
25.515 |
|
|
Net Current Assets |
|
|
43.825 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.004 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
66.368 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
|
171.589 |
|
|
|
Other Income |
NA |
|
|
|
|
|
TOTAL |
NA |
286.791 |
171.589 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
NA |
|
158.246 |
|
|
|
Administrative Expenses |
NA |
|
|
|
|
|
Advertising Expenses |
NA |
|
|
|
|
|
TOTAL |
NA |
250.227 |
158.246 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
NA |
36.564 |
13.343 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
12.820 |
5.432 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
18.690 |
23.744 |
7.911 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
25.653 |
11.909 |
3.998 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
10.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
25.653 |
11.909 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
4.458 |
4.363 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
3738.01 |
4749.00 |
1582.12 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
8.28 |
4.61 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
23.10 |
14.94 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.78 |
0.57 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.61
|
1.19 |
1.80 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.77
|
1.40 |
2.72 |
LOCAL AGENCY FURTHER INFORMATION
|
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 two 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 |
Yes |
|
33) Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34) External Agency Rating, if available |
Yes |
|
Unsecured Loan |
As
on 31.03.2012 (Rs.
in Millions) |
As
on 31.03.2011 (Rs.
in Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Deposits from others |
0.114 |
0.000 |
|
Loans and advances from related parties |
14.550 |
19.074 |
|
Total
|
14.664 |
19.074 |
Bankers Charges
Report as per Registry
|
Corporate identity number of the company |
U51219MP1999PTC013843 |
|
Name of the company |
TROPILITE FOODS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
Davars Campus, Tansen Nagar, Gwalior – 474 002, Madhya Pradesh, India E-Mail: info@davars.com |
|
This form is for |
Modification of charge |
|
Charge identification number of the modified |
10086375 |
|
Type of charge |
Immovable Property Book Debts Movable Property (not being pledge) |
|
Particular of charge holder |
State Bank of India,
RMME, Zonal Office, City Centre, Gwalior – 474 011, Madhya Pradesh, India E-Mail: sbi.03213@sbi.co.in |
|
Nature of description of the instrument creating or modifying the
charge |
SME 1- Letter of Arrangement SME 4-Supplement Agreement of loan cum hypothecation |
|
Date of instrument Creating the charge |
20.01.2012 |
|
Amount secured by the charge |
Rs.80.388 millions |
|
Brief particulars of the principal terms an conditions and extent and operation
of the charge |
Rate of Interest: Working Capital 1.75% margin above the base rate which is presently
10% Present effective rate is 11.75% p.a. Terms of Repayment: Repayable on demand subject to renewal. Margin: Raw Materials : Imported-25% Raw Materials : Indigenous-25% Semi-Finished Goods-100% Finished Goods-30% Components/Consumables/Spares-100% Domestic Receivable-40% Letter of Credit-25% Extent and Operation of the charge: To the extent of Bank's exposure i.e. Rs.80.400 millions. |
|
Short particulars of the property charged |
Cash Credit Primary-Hypothecation of stock of raw material, stores, spares
Finished goods including goods in transit and all present and future book
debts/ receivables. Collateral (1) Extension of charge on plant and machinery and all other fixed
assets of the company. (2) EM of diverted land situated at Survey No 62 min PH No 34 Area
0.203 hectare at Village Purani Chhawni, Opposite Agrasen Warehouse AB Road
Gwalior in the name of Smt Meera Davar w/o Smt Meera Davar. (3) EM of diverted land at Survey No 64,66,67,68 PH No 34 Area 0.094
hectare situated at Village Purani Chhawni Opposite Agrasen Warehouse, AB
Road Gwalior in the name of Shri Puneet Davar s/o Shri G S Dava |
|
Whether any of the property or interest therein under reference is not
registered in the name of the company If yes, in whose name it is registered |
Yes Puneet and Meera Davar |
|
Date of latest modification prior to the present modification |
27.11.2010 |
|
Particulars of the present modification |
The cash credit limit has been enhanced by Rs.36.800 millions the
total credit limits spend at Rs.80.400 millions. |
FIXED ASSETS:
·
Cold Rooms
·
Dry Production Plant
·
EDP Equipment
·
Mayonaise Plant
·
NDT Plant
·
Utility Section
·
30L U-Mixers
·
Air Conditioner
·
Building A/c
·
Car
·
Furniture and Fixtures
·
Lab Equipment
·
Office Equipment
·
Research Laboratory
Equipment
·
Plant and Machinery (New)
·
Vacuum Dryer
·
Biotech Laboratory
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.57.73 |
|
|
1 |
Rs.90.60 |
|
Euro |
1 |
Rs.76.96 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.