|
Report Date : |
13.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
SRI VENKATESWARA CARBONIC GASES PRIVATE LIMITED |
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Registered Office : |
270 Sambal Thottamthekkupalayam Post, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
29.09.1997 |
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Com. Reg. No.: |
18-8118 |
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CIN No.: [Company
Identification No.] |
U40200TZ1997PTC008118 |
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TIN No.: |
33452023458 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CMBS03779G |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Manufacturer of Carbonic Gases, Industrial Gases, Medical Gases, Industrial and Medical Grade Gases, like Argon, Nitrogen etc |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 12000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are fair. Business is active. Payment of the company are reported
as being usually correct. The company can be considered good for normal business dealings under usual
trade terms and conditions. |
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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
LOCATIONS
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Registered Office : |
270 Sambal Thottamthekkupalayam Post, |
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E-Mail : |
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Factory : |
9/84, |
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Tel. No.: |
91-422-2230846/ 2237530/ 2236692 |
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Mobile No.: |
91-9842211535 (Mr. Mahesh) |
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Fax No.: |
91-422-2693799/ 2692922 |
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E-Mail : |
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Area : |
15000 sq. ft. |
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Location : |
Owned |
DIRECTORS
|
Name : |
Mr. R. Ramachandran |
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Designation : |
Director |
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Address : |
84, Lajapathirai St. Sri Nivasapuram, |
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Date of Appointment : |
29.09.1997 |
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Name : |
Mrs. R. Vidhya |
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Designation : |
Director |
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Address : |
84, Lajapathirai St. Sri Nivasapuram, |
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Date of Appointment : |
29.09.1997 |
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Name : |
Mr. Sundar Rajan |
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Designation : |
Director |
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Name : |
Mrs. Meelaveni |
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Designation : |
Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2007)
|
Names of Shareholders |
|
No. of Shares |
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|
R. Ramachandran |
|
3340 |
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R. Vidhya |
|
3330 |
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Gvsneelaveni Soundrrajan |
|
1660 |
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V. Soundrarajan |
|
1670 |
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Total |
|
10000 |
(AS ON 30.09.2007)
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Category |
|
Percentage |
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Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Carbonic Gases, Industrial Gases, Medical Gases, Industrial and Medical Grade Gases, like Argon, Nitrogen etc |
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Products : |
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Terms : |
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Selling : |
Cash and Credit (60 days) |
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Purchasing : |
Cash and Credit (60 days) |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
100 |
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Bankers : |
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Facilities : |
TL – Rs.2.000 Millions |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Bakthavachalam and company Chartered Accountant |
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Address : |
225, 2nd Floor, |
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Associates/Subsidiaries : |
|
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
|
|
|
10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1.000 |
1.000 |
1.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
2.700 |
|
|
3] Reserves & Surplus |
1.455 |
1.338 |
1.052 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2.455 |
2.338 |
4.752 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
5.461 |
2.752 |
3.781 |
|
|
2] Unsecured Loans |
6.047 |
5.005 |
1.105 |
|
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TOTAL BORROWING |
11.508 |
7.757 |
4.886 |
|
|
DEFERRED TAX LIABILITIES |
0.383 |
0.309 |
0.105 |
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|
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TOTAL |
14.346 |
10.404 |
9.743 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
6.641 |
4.674 |
5.336 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
0.129 |
0.147 |
0.402 |
|
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Sundry Debtors |
9.218 |
8.254 |
4.411 |
|
|
Cash & Bank Balances |
0.032 |
0.171 |
0.175 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
1.415 |
1.307 |
1.071 |
|
Total
Current Assets |
10.794 |
9.879 |
6.059 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
3.061 |
4.099 |
1.622 |
|
|
Provisions |
0.030 |
0.054 |
0.035 |
|
Total
Current Liabilities |
3.091 |
4.153 |
1.657 |
|
|
Net Current Assets |
7.703 |
5.726 |
4.402 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.002 |
0.004 |
0.005 |
|
|
|
|
|
|
|
|
TOTAL |
14.346 |
10.404 |
9.743 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
19.848 |
13.335 |
9.415 |
|
|
Other Income |
0.324 |
0.000 |
0.088 |
|
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Total Income |
20.172 |
13.335 |
9.503 |
|
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|
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Profit/(Loss) Before Tax |
0.222 |
0.563 |
0.636 |
|
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Provision for Taxation |
0.105 |
0.020 |
0.239 |
|
|
Profit/(Loss) After Tax |
0.117 |
0.543 |
0.397 |
|
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Expenditures : |
|
|
|
|
|
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Depreciation & Amortization |
1.966 |
0.769 |
0.636 |
|
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Other Expenditure |
17.984 |
12.003 |
8.231 |
|
Total Expenditure |
19.950 |
12.772 |
8.867 |
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|
Earnings Per Share (Rs.) |
11.70 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
0.58
|
4.07 |
4.18 |
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|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.12
|
4.22 |
6.76 |
|
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.27
|
3.87 |
5.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.24 |
0.13 |
|
|
|
|
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|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.95
|
5.09 |
1.38 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.49
|
2.38 |
3.66 |
LOCAL AGENCY FURTHER INFORMATION
|
Additional Requirement of Indiamart for Trust-Seal |
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VAT / TIN : 33452023458 |
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PAN / TAN : AACCS4557R |
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Bank Name : Indian
Overseas Bank |
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Bank Address : |
|
Bank A/c. No.: CC –
1030 |
|
Account Since : 8
years |
TRADE REFERENCE:
FORM 8:
|
Name of the company |
SRI VENKATESWARA CARBONIC GASES PRIVATE LIMITED |
|
Presented By |
Mr. R. Ramachandran, Managing Director |
|
1) Date and description of instrument creating the change |
Letter of
Hypothecation and Term Loan Agreement dated 02.09.1998 representing Rs.2.000
Millions for term loan, Rs.0.300 Million toward cash Credit |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.2.300 Millions
|
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Equipment of Bulk
Carbon dioxide storage system and Book Debts |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Term Loan is
repayable in 60 equated monthly installments of Rs.0.033 Million Rate of Interest
of PLR + 4% + interests rate = 17.34% Cash Credit –
Rate of Interests PLR + 4% 1% = 18.36% |
|
5) Name and Address and description of the person entitled to the charge. |
|
|
6) Date and brief description of instrument modifying the charge |
Letter of
Hypothecation on Dated 12th February 2005. |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
NA |
|
Corporate
identity number of the company |
U40200TZ1997PTC008118 |
|
Name of the
company |
SRI VENKATESWARA CARBONIC GASES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
270 Sambal Thottamthekkupalayam Post, |
|
This form is for |
Immovable Property Book Debts Movable Property |
|
Type of charge |
Indian Overseas
Bank |
|
Particular of
charge holder |
Letter of
Hypothecation dated 09.05.2007 |
|
Nature of
instrument creating charge |
09.05.2007 |
|
Date of instrument
Creating the charge |
Rs.2.490 Millions |
|
Amount secured by
the charge |
Rate of
Interests: Rate of Interests
is BPLR – 1% (Presently 12.25%) Terms of
repayment Terms of
Repayment is subject to annual review/ renewal Margin: 50% of Book Debts Extent and
Operation of the Charge: 100% |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
|
FIXED ASSETS:
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.54.34 |
|
|
1 |
Rs.80.90 |
|
Euro |
1 |
Rs.70.73 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
43 |
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.