MIRA
INFORM REPORT
|
Report Date : |
18.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
TYTAN ORGANICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
3rd Floor, Sunama House, August Kranti Marg, Mumbai-400026,
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
16.10.1991 |
|
|
|
|
Com. Reg. No.: |
11-063639 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.7.118
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100MH1991PTC063639 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Chemicals and Intermediates. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (16) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The management of the company has failed to file its financials with the
government department after 2010. Mr. Fernando, from the export department has confirmed that the
business is still active and they are the manufacturer and exporter of
chemicals. He reported that the sales turnover during 2011-2012 is Rs.
236.100 Millions. However, these figures are not verified. As per old verified, the company is found to have huge accumulated
losses which heavily exceed the net worth and huge external borrowings. The
liquidity is found to be fully eroded. However, business is active. Payment terms are unknown. The company can be considered for business dealings on a safe and
secured 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 |
|
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 / Corporate Office : |
3rd Floor, Sunama House, August Kranti Marg, Mumbai-400026,
|
|
Tel. No.: |
91-22-23851825/23851833/23885129/23886256 |
|
Fax No.: |
91-22-23851767 |
|
E-Mail : |
|
|
|
|
|
Head Office : |
C-146, Trans Thane Creek Industrial Area, Pawne, |
|
Tel. No.: |
91-22-27670803/27686685/27671839/27671744 |
|
Fax No.: |
91-22-27676684 |
|
|
|
|
Overseas Plant Office : |
Post Box 41605, Hamriyah Free Zone, Sharjah, UAE |
|
Tel. No.: |
91-971-6-5260433 / 5260435 |
DIRECTORS
As on: 30.09.2010
|
Name : |
Mr. Cyrus Maneck Bahadurji |
|
Designation : |
Director |
|
Address : |
2/3, Spenta Co-Operative Housing Society Limited, |
|
Date of Birth/Age : |
24.01.1958 |
|
Date of Appointment : |
16.10.1991 |
|
DIN No.: |
00064818 |
|
|
|
|
Name : |
Mrs. Tanaz Cyrus Bahadurji |
|
Designation : |
Director |
|
Address : |
2/3, Spenta Co-Operative Housing Society Limited, |
|
Date of Birth/Age : |
27.12.1956 |
|
Date of Appointment : |
16.10.1991 |
|
DIN No.: |
00064961 |
|
|
|
|
Name : |
Mr. Anil Malhotra |
|
Designation : |
Nominee Director |
|
Address : |
Flat No. 411, Nestle Apartment, Mombay Dyeing Mill
Compound, Worli, Mumbai-400013, |
|
Date of Birth/Age : |
25.02.1954 |
|
Date of Appointment : |
04.03.2010 |
|
DIN No.: |
03133593 |
MAJOR SHAREHOLDERS
As on: 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Cyrus Maneck Bahadurji |
|
342500 |
|
Tanaz Cyrus Bahadurji |
|
7500 |
|
Tytan Combine |
|
361767 |
|
|
|
|
|
Total |
|
711767 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2010
|
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 |
51.00 |
|
Directors or relatives of Directors |
49.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Chemicals and Intermediates. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· Central Bank of India, Industrial Finance Branch, Chander Mukhi, Ground Floor, Nariman Point, Mumbai-400021, Maharashtra, India · Central Bank of India, Nariman Point Branch, Chander Mukhi, Ground Floor,Nariman Point, Mumbai - 400021, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kalyaniwala and Mistry Chartered Accountants |
|
Address : |
Kalpataru Heritage, 127, |
|
PAN.: |
91-22-56347640 |
|
|
|
|
Holding Company: |
Tytan Combine FZE |
|
|
|
|
Subsidiary : |
Titan Organic Chemicals (Middle East) FZE (from 6th
November 2007) |
CAPITAL STRUCTURE
As on: 31.03.2010
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 |
|
|
|
|
|
|
711767 |
Equity Shares |
Rs.10/- each |
Rs.7.118
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
7.118 |
7.118 |
7.118 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
3.256 |
3.256 |
3.256 |
|
|
4] (Accumulated Losses) |
(313.280) |
(284.106) |
(223.071) |
|
|
NETWORTH |
(302.906) |
(273.732) |
(212.697) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
285.900 |
241.078 |
277.449 |
|
|
2] Unsecured Loans |
55.762 |
55.762 |
67.527 |
|
|
TOTAL BORROWING |
341.662 |
296.840 |
344.976 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
38.756 |
23.108 |
132.279 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
256.592 |
20.319 |
25.428 |
|
|
Capital work-in-progress |
0.000 |
225.886 |
187.613 |
|
|
|
|
|
|
|
|
INVESTMENT |
2.009 |
2.009 |
2.009 |
|
|
DEFERREX TAX ASSETS |
1.264 |
18.435 |
1.647 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
30.357
|
12.848 |
22.415 |
|
|
Sundry Debtors |
107.008
|
108.372 |
157.713 |
|
|
Cash & Bank Balances |
2.272
|
5.752 |
15.815 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
87.149
|
83.938 |
94.144 |
|
Total
Current Assets |
226.786
|
210.910 |
290.087 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
282.581
|
264.118 |
248.235 |
|
|
Other Current Liabilities |
160.147
|
183.686 |
118.704 |
|
|
Provisions |
5.167
|
6.647 |
7.566 |
|
Total
Current Liabilities |
447.895
|
454.451 |
374.505 |
|
|
Net Current Assets |
(221.109)
|
(243.541) |
(84.418) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
38.756 |
23.108 |
132.279 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
349.583 |
375.886 |
524.865 |
|
|
|
Other Income |
0.806 |
17.869 |
1.316 |
|
|
|
TOTAL (A) |
350.389 |
393.755 |
526.181 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Expenses |
225.496 |
|
271.939 |
|
|
|
Purchase of Traded Goods |
0.099 |
36.097 |
|
|
|
|
Expenses |
123.231 |
129.897 |
|
|
|
|
(Increase) / Decrease in Inventories |
(15.416) |
3.824 |
|
|
|
|
Increase / (Decrease) in Excise Duly on Inventory Change |
0.194 |
(0.107) |
|
|
|
|
Prior year adjustment |
2.517 |
(5.482) |
|
|
|
|
TOTAL (B) |
336.121 |
448.025 |
271.939 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
14.268 |
(54.270) |
(Including
Financial Expenses) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
23.939 |
16.116 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(9.671) |
(70.386) |
(254.242) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.333 |
6.632 |
7.537 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(12.004) |
(77.018) |
(261.779) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
17.171 |
(15.983) |
0.832 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(29.175) |
(61.035) |
(262.611) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(285.106) |
(224.071) |
(38.540) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(314.280) |
(285.106) |
(224.071) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods at FOB value |
193.433 |
170.790 |
263.337 |
|
|
|
Freight |
3.577 |
4.555 |
7.578 |
|
|
|
Insurance |
0.058 |
0.065 |
0.069 |
|
|
|
Interest |
1.936 |
7.615 |
0.000 |
|
|
|
Guarantee Commission |
0.324 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
199.328 |
183.025 |
270.984 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(40.99) |
(85.75) |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(8.33)
|
(15.50) |
(49.91) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(3.43)
|
(20.49) |
(49.88) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.48)
|
(33.31) |
(82.97) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.04)
|
(0.28) |
(1.23) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(1.13)
|
(1.08) |
(1.62) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.51
|
0.46 |
0.77 |
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 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 |
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 |
No |
|
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 7, Nowraji Mansion, 31, Wodehouse
Road, Mumbai-400039, Maharashtra, India to the present address w.e.f.
03.11.2008
UNSECURED LOAN:
(Rs. In Millions)
|
Particulars |
As
on 31.03.2010 |
As
on 31.03.2009 |
|
From Directors and Relatives |
55.762 |
55.762 |
|
Total |
55.762 |
55.762 |
|
|
|
|
BANKERS CHARGES
REPORT AS PER REGISTRY:
|
Corporate
identity number of the company |
U24100MH1991PTC063639 |
|
Name of the
company |
TYTAN ORGANICS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
3rd Floor, Sunama House, August Kranti Marg, Mumbai – 400026, Maharashtra, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
80001774 |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
Central Bank Of
India, Industrial Finance Branch, Chander Mukhi, Gr Floor, Nariman Point,
Mumbai – 400021, Maharashtra, India |
|
Nature of
instrument creating charge |
Extension with
creation of memorandum of deposit of title deeds |
|
Date of
instrument Creating the charge |
08.11.2012 |
|
Amount secured by
the charge |
Rs. 369.600
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest As stipualted by
bank from time to time Terms of Repayment As stipualted by
bank from time to time Margin As stipualted by
bank from time to time Extent and Operation of the charge 1st Charge
(Present and Future)=Total Limit Rs.369.600 Millions (C.C = Rs.17.000
Millions OD AGT Book Debts = Rs.42.000 Millions, E. B. N = Rs.20.000
Millions, CC - P. C Cum EBP/ EBD = Rs.90.000 Millions, WCTL-LI – 1 = Rs.0.400
Millions, ADDL WCTL-LII = Rs.26.200 Millions, WCTL-LIII =Rs.17.100 Millions,
WCTL-LIV =40.000 Millions, T L-LI = Rs.34.200 Millions, T L LII = Rs.50.700
Millions, Inland/ Import LC = Rs.25.000 Millions. ,B.G = Rs.2.000 Millions,
Revolving SBLC (MDL For CNG) = 5.000 Millions) (Sub Limit Under P .C .Cum
EBP/EBD = Direct Bills =Rs.80.000 Millions) and/ Or As Stipulated By Bank
From Time To Time Others As stipulated by
bank from time to time and/or as per agreement attached and/ or as per
sanction letter of the bank |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
First charge (present and future)- (1) EMG of land known as plot no.c-146 in the trans thane creek industrial area, pawane, district thane with building. and structures thereon and fixtures and fittings i.e. factory land and building and fixed and movable assets of the company (2)EMG of land known as plot no.t-29 and t-29 pt taloja industrial area ,vill ghot and tandare tal., pavel dist raigad i.e. factory land and building and fixed and movable assets of the company |
|
Particulars of
the present modification |
By this modification limit stands to Rs. 369.600 Millions (C.C.= Rs.17.000 Millions OD AGT Book Debts=Rs.42.000 Millions, e. B. N= Rs.20.000 Millions, CC-P.C cum EBP/EBD = Rs.90.000 Millions, WCTL-1=Rs.0.400 Millions, ADDL WCTL - II = Rs.26.200 Millions, WCTL -iii=Rs.17.100 Millions, WCTL=iv=40.000 Millions, T l-ii =Rs.34.200 Millions, T l iii=Rs.50.700 Millions, Inland /Import LC=Rs.25.000 Millions. B.G. =Rs.2.000 Millions, revolving SBLC (MDL for CNG= Rs.5.000 Millions) (Sub limit under P .C .cum EBP/EBD=direct bills =Rs.80.0000 Millions), Securities are continued as given by original charge as well as by modifications. |
FIXED ASSETS:
· Leasehold land
· Factory building
· Plant and machinery
· Furniture and fixtures
· Vehicles
· Laboratory equipments
· Data processing 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 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.54.16 |
|
|
1 |
Rs.81.74 |
|
Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
1 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
16 |
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.