MIRA
INFORM REPORT
|
Report Date : |
11.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAPA PROFILES INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No. 17, II Floor, Bannerghatta Road, JP Nagar, 3rd Phase,
Bangalore-560076, Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
02.07.2010 |
|
|
|
|
Com. Reg. No.: |
08-063125 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1381.750 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28999KA2010FTC063125 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAOCS4633C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Aluminium Profiles. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 3958000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of ‘Sapa AB, Sweden’. It is an established company
having a moderate track record. It has achieved better growth in the turnover during 2012 from the
acquired facility. However, it has incurred heavy loss. There appears some
accumulated loss recorded by the company.
Trade relations are reported as fair. Business is active. Payment
terms are 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 – 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.
LOCATIONS
|
Registered Office : |
No. 17, II Floor, Bannerghatta Road, JP Nagar, 3rd Phase,
Bangalore - 560076, Karnataka, India |
|
Tel. No.: |
91-80-49020100 |
|
Fax No.: |
91-80-49020101 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Fabrication
Plant: 63-64, Bommasabdra Industrial Area, Anekal Taluka, Bangalore-560099,
Karnataka, India |
|
Tel. No.: |
91-80-27839861 |
|
Fax No.: |
91-80-27839868 |
|
|
|
|
Factory 2 : |
Extrusion Unit: Sy-255, 279 and 257, Industrial Park, C Block, Kuppam-517425, Andhra
Pradesh, India |
|
Tel. No.: |
91-8570-207499 |
|
Fax No.: |
91-8570-255144 |
DIRECTORS
As on 25.09.2012
|
Name : |
Mr. Bharat Behal |
|
Designation : |
Director |
|
Address : |
C-1821, Sushant Lok, Phase I, Gurgaon-122001, Haryana, India |
|
Date of Birth/Age : |
14.04.1967 |
|
Date of Appointment : |
02.07.2010 |
|
Din No.: |
00700772 |
|
|
|
|
Name : |
Kshemendranath Pudukudi |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
Building No. 10, Flat No. 301, Swapnagiri Siddhachal Housing Complex,
Off Pokharan Road No. 2, Thane-400601 (West), Maharashtra, India |
|
Date of Birth/Age : |
16.09.1965 |
|
Date of Appointment : |
02.07.2010 |
|
Din No.: |
01628693 |
|
|
|
|
Name : |
Per Lars Stefan Thorheim |
|
Designation : |
Director |
|
Address : |
Fasanvagen, 34A, 192, 55, Sollentuna, Stockholm-19255, Sweden |
|
Date of Birth/Age : |
27.09.1957 |
|
Date of Appointment : |
25.09.2012 |
|
Din No.: |
05144795 |
|
|
|
|
Name : |
Mr. Peter Arendt |
|
Designation : |
Director |
|
Address : |
Trzcianka, The Wielkopolskie,
Province UL, Kopernika Pin Code 18, Poland |
|
Date of Birth/Age : |
02.06.1963 |
|
Date of Appointment : |
25.09.2012 |
|
Din No.: |
05175717 |
|
|
|
|
Name : |
Mr. David Williams |
|
Designation : |
Director |
|
Address : |
RM 802, No.6, Lane 619, Huang jin Cheng Dao, Shanghai, China |
|
Date of Birth/Age : |
27.03.1948 |
|
Date of Appointment : |
25.09.2012 |
|
DIN No.: |
05217517 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Kshemendranath Pudukudi |
|
1 |
|
Sapa AB, Sweden |
|
13817499 |
|
|
|
|
|
Total |
|
13817500 |
As on 25.09.2012
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 : |
Manufacturing of Aluminium Profiles. |
PRODUCTION STATUS (As on 31.03.2012)
|
Particulars |
Installed
Capacity |
Actual
Production |
|
Aluminium Profiles |
512 MT Per Annum |
8.693 MT |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.R. Batliboi and Company Chartered Accountants |
|
Address : |
UB City, Canberra Block, 12th and 13th Floor,
No. 24, Vittal Mallya Road, Bangalore-560001, Karnataka, India |
|
Tel. No.: |
91-80-40275000 |
|
Fax No.: |
91-80-22106000 |
|
PAN.: |
AABFS3421N |
|
|
|
|
Holding company : |
Sapa AB, Sweden |
|
|
|
|
Ultimate holding
company : |
Orkla ASA, Oslo, Norway |
|
|
|
|
Fellow subsidiary : |
· Sapa Profiles (Shanghai) Company Limited, China · Sapa Profiler AB, Sweden · Sapa Aluminiun SP, Z.O.O. Poland · Sapa Heat Transfer Tubes India Private Limited, India · Sapa Building Systems Private Limited, India · Sapa Asia Private Limited, HongKong · Sapa (Shanghai) Management Company Limited, China · Borregaard Southasia Private Limited, India · Orkla India Private Limited, India · MTR Foods Private Limited, India · Sapa Industrial Extrusion Inc., USA · Sapa Canada Inc. · Sapa Profiles Inc., USA · Sapa Profiles Portugal, SA · Sapa Gmbh · Sapa Technologies GCC, Sweden · Sapa Heat Transfer Tube Gmbh · Sapa H E Tubing Moneterrey Plant, USA · Sapa Heat Transfer (Shanghai) Limited, China · Sapa France |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13817500 |
Equity Shares |
Rs.100/- each |
Rs.1381.750 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13817500 |
Equity Shares |
Rs.100/- each |
Rs.1381.750 Millions |
|
|
|
|
|
(a) Reconciliation of
the shares outstanding at the beginning and at the end of the reporting period
|
Particular |
No. of Share |
Rs. In Millions |
|
At the beginning of the year/period |
1,00,000 |
10.000 |
|
Issued during the year/period |
1,37,17,500 |
1371.750 |
|
Outstanding at the end of the year/period |
1,38,17,500 |
1381.750 |
(b) Terms/ rights
attached to equity shares
The Company has only one class of equity shares having a par value of Rs. 100 per share. Each holder of equity share is entitled to one vote per share. (ii) In event of liquidation of the Company, the holders of equity shares will be entitled to receive the assets of the Company in proportion to the number of equity shares held by the shareholders.
(c) Details of shareholders
holding more than 5% shares in the Company
|
Particular |
No. of Share |
% holding |
|
Equity shares of Rs.100 each fully paid |
|
|
|
Sapa AB, Sweden |
1,38,17,499 |
99.99% |
|
Orkla India Private Limited, India |
-- |
-- |
As per of the Company, including its register of shareholders/ members and other declaration received from shareholders regarding beneficial interest, the above shareholding represent both legal and beneficial ownership of shares.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
1381.750 |
10.000 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
(392.250) |
(24.066) |
|
|
NETWORTH |
|
989.500 |
(14.066) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
902.203 |
70.500 |
|
|
TOTAL BORROWING |
|
902.203 |
70.500 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
1891.703 |
56.434 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
1369.280 |
48.920 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
422.383
|
7.836 |
|
|
Sundry Debtors |
|
369.117
|
0.888 |
|
|
Cash & Bank Balances |
|
35.859
|
4.375 |
|
|
Other Current Assets |
|
4.163
|
0.000 |
|
|
Loans & Advances |
|
112.270
|
9.706 |
|
Total
Current Assets |
|
943.792
|
22.805 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
287.147
|
10.106 |
|
|
Other Current Liabilities |
|
129.484
|
4.277 |
|
|
Provisions |
|
4.738
|
0.908 |
|
Total
Current Liabilities |
|
421.369
|
15.291 |
|
|
Net Current Assets |
|
522.423
|
7.514 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
1891.703 |
56.434 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
572.091 |
3.061 |
|
|
|
Other Income |
|
1.641 |
1.143 |
|
|
|
TOTAL |
|
573.732 |
4.204 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
906.962 |
28.270 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
906.962 |
28.270 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
|
(333.230) |
(24.066) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
34.953 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
|
(368.183) |
(24.066) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Service Income |
|
10.295 |
2.411 |
|
|
|
Commission Income |
|
|
0.612 |
|
|
TOTAL EARNINGS |
|
10.295 |
3.023 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
NA |
3.941 |
|
|
|
Capital Goods |
|
NA |
34.806 |
|
|
TOTAL IMPORTS |
|
NA |
38.747 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
(26.65) |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
|
(64.17) |
(572.45) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
(28.25) |
(786.21) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(14.41) |
(33.55) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(0.34) |
1.71 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
0.91 |
(5.01) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
2.24 |
1.49 |
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 two years |
Yes |
|
12] |
Profitability for last two 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 |
No |
|
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 |
NOTE:
The registered office of the company has been shifted from
307/308, B-Wing, Bsel Tech Park, Sector 30-A, Vashi, Navi Mumbai - 400070,
Maharashtra, India to the present address w.e.f. 20.02.2012.
OPERATIONS:
The integration of extrusion business acquired from M/s Alufit India Private Limited has been completed and financial results for Apr to Mar 2012 includes results from this business from 9th May 2011. The company produced 2708MT of Aluminium profiles from the acquired facility at Kuppam and sold 2616MT of Aluminium profiles. Further, the Bommasandra facility also showed a better order intake as compared from the previous year. Further, the Heat Transfer business acquired from M/s Orkla India Limited was also integrated into the company from Apr 2011 and the results have been presented accordingly.
NATURE OF OPERATIONS
Subject was incorporated on July 2, 2010 under the Companies Act, 1956 and is presently a subsidiary of Sapa AB, Sweden. The Company has been set up with the main objective of manufacturing aluminium profiles in desired shapes and sizes for different types of industries including all industrial process which converts aluminium ingots into profiles and other related activities.
CAPITAL COMMITMENTS
AND CONTINGENT LIABILITIES
Rs. In Millions
|
Particulars |
31.03.2012 |
31.03.2011 |
|
Estimated amount of contracts remaining to be executed on capital account and not provided for (net of Advance) |
8.095 |
0.188 |
|
Commitment for purchase of assets |
0.000 |
981.700 |
The Company has obtained licenses, under the Export Promotion Capital Goods (EPCG) Scheme for importing capital goods at a concessional rate of customs duty against submission of bank guarantee and bonds.
Under the terms of the respective schemes, the Company is required to export goods of FOB value of at least six times the duty saved in respect of certain capital goods. The Export Promotion Capital Goods Scheme, Foreign Trade Policy 2004-2009 as issued by the Central Government of India, covers both manufacturer exporters and service providers.
Accordingly, the Company is required to export goods of FOB value of Rs. 47.696 Millions by Financial Year 16-17. Upto and during the year ended March 31, 2012, the Company has exported goods of FOB value of Rs.34.047 Millions (March 31, 2011 : Nil).
In the event of failure in respect of full or part of the export obligation in accordance with the provisions of EPCG Scheme, the Company has undertaken to pay customs duty proportionate to the extent of shortfall in export obligation and also interest @ 15% per annum thereon for the period of shortfall.
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As
on 31.03.2011 |
As
on 31.03.2010 |
|
Short-term
borrowings |
|
|
|
Short term loans from banks |
662.600 |
70.500 |
|
Buyer's Credit from banks |
239.603 |
0.000 |
|
Total |
902.203 |
70.500 |
|
1. Short term loan is an Indian rupee loan for a duration in the range of 5 - 365 days and carry interest ranging from 9% to 13.25% per annum. 2. Buyer's credit loan is a foreign currency loan for a duration in the range of 90 - 120 days and carry interest ranging from 1.74% to 4.10% per annum. |
||
FIXED ASSETS:
·
Plant and Machinery
·
Leasehold Improvements
·
Computer
·
Office Equipments
·
Furniture and Fixtures
·
Computer Software
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 records 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.54.40 |
|
|
1 |
Rs.81.57 |
|
Euro |
1 |
Rs.71.24 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
-- |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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.