MIRA INFORM REPORT
|
Report Date : |
30.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
JAKHAU SALT COMPANY PRIVATE LIMITED |
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Formerly Known
As : |
WELLBRINES CHEMICALS PRIVATE LIMITED |
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Registered
Office : |
5th Floor, Tower II, TVH Beliciaa Towers, 94 MRC Nagar, Chennai –
600028, Tamilnadu |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
07.12.1982 |
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Com. Reg. No.: |
18-017092 |
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Capital
Investment / Paid-up Capital : |
Rs.85.040 Millions |
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CIN No.: [Company Identification
No.] |
U24117TN1982PTC017092 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CHEW00089F |
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PAN No.: [Permanent Account No.] |
AAACW0867G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Edible Salt and Industrial Salt. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
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 3400000 |
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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 a satisfactory track record.
Financially company has performed well during the year 2011-12. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct and as per commitment. The company can be considered for normal business dealings 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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
BB+ (Long Term Rating) |
|
Rating Explanation |
Having moderate risk of default regarding
timely servicing of financial obligation. |
|
Date |
December 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/ Corporate Office : |
5th Floor, Tower II, TVH Beliciaa Towers, 94 MRC Nagar, Chennai –
600028, Tamilnadu, India |
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Tel. No.: |
91-44-43033444/ |
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Fax No.: |
91-44-43033555/ 777 |
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E-Mail : |
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Website : |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Muthusamy Ramachandran |
|
Designation : |
Director |
|
Address : |
35, F-1, 4th Trust Cross Street, Mandaveli, Chennai –
600028, Tamilnadu, India |
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Date of Birth/Age : |
06.07.1945 |
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Date of Appointment : |
29.09.2003 |
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DIN No.: |
00046310 |
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Name : |
Mr. Sridharan Usha |
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Designation : |
Nominee Director |
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Address : |
New No.6, Old No.14, Parthasarathy Nagar, 10th Street,
Adambakkam, Chennai – 600088, Tamilnadu, India |
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Date of Birth/Age : |
12.04.1958 |
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Date of Appointment : |
30.06.2011 |
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DIN No.: |
03567757 |
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Name : |
S Sivaraman |
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Designation : |
Director |
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Address : |
No.50/48/2, Thambiah Road, West Mambalam Chennai – 600033, Tamilnadu,
India |
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Date of Birth/Age : |
17.12.1956 |
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Date of Appointment : |
30.06.2012 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
P B Anandam |
|
153072 |
|
P Pramila |
|
153072 |
|
R Ranjit |
|
153072 |
|
P |
|
153072 |
|
Archean Industries Private Limited, India |
|
238112 |
|
|
|
|
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Total |
|
850400 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
|
Percentage |
|
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Bodies corporate |
|
28.00 |
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Other top fifty shareholders |
|
72.00 |
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Edible Salt and Industrial Salt. |
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Products : |
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PRODUCTION STATUS (As on: 31.03.2011)
|
Particulars |
Unit |
Licensed/
Installed Capacity |
Actual
Production |
|
Jakhau Salt Field |
MT |
1105000 |
458654 |
|
Tada Refinery |
MT |
100000 |
-- |
Note: Installed capacity as certified by the Management.
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
T. Udaya Raj and Associates Chartered Accountants |
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Address : |
33 Noor, Veerasamy Street, Nungambakkam, Chennai – 600034, Tamilnadu, India |
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PAN No.: |
AAAFT0332L |
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Subsidiary Company
: |
Sea Salt Holding Pte Limited |
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Associate : |
CIN No.: U14102AP1984PTC004400
CIN No.: U51101TN1990PLC018819
CIN No.: U14220TN1996PLC034264
CIN No.: U24298TN2009PTC072270
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CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.100/- each |
Rs.100.000 Millions |
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|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
850400 |
Equity Shares |
Rs.10/- each |
Rs.85.040
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
85.040 |
85.040 |
85.040 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
774.481 |
568.527 |
513.162 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
859.521 |
653.567 |
598.202 |
|
|
LOAN FUNDS |
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|
|
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1] Secured Loans |
602.725 |
627.348 |
761.757 |
|
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2] Unsecured Loans |
208.713 |
241.507 |
124.840 |
|
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TOTAL BORROWING |
811.438 |
868.855 |
886.597 |
|
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DEFERRED TAX LIABILITIES |
99.040 |
100.267 |
98.693 |
|
|
|
|
|
|
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TOTAL |
1769.999 |
1622.689 |
1583.492 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
572.577 |
607.424 |
621.807 |
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Capital work-in-progress |
77.172 |
78.996 |
229.812 |
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INVESTMENT |
834.473 |
426.110 |
21.803 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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Inventories |
77.961
|
109.298 |
125.581 |
|
|
Sundry Debtors |
148.394
|
37.574 |
163.341 |
|
|
Cash & Bank Balances |
254.465
|
431.165 |
319.244 |
|
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Other Current Assets |
27.627
|
11.335 |
177.228 |
|
|
Loans & Advances |
336.367
|
326.488 |
642.687 |
|
Total
Current Assets |
844.814
|
915.860 |
1428.081 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
29.518
|
17.719 |
509.740 |
|
|
Other Current Liabilities |
199.721
|
163.796 |
13.612 |
|
|
Provisions |
329.798
|
224.186 |
194.659 |
|
Total
Current Liabilities |
559.037
|
405.701 |
718.011 |
|
|
Net Current Assets |
285.777
|
510.159 |
710.070 |
|
|
|
|
|
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|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1769.999 |
1622.689 |
1583.492 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Gross Income |
1441.922 |
981.155 |
962.434 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
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TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
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|
|
|
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Administrative Expenses |
|
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|
|
|
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Advertising Expenses |
|
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|
|
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TOTAL |
NA |
NA |
NA |
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|
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|
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PROFIT BEFORE
TAX |
305.108 |
84.275 |
228.746 |
|
|
|
|
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|
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Less |
TAX |
99.153 |
28.910 |
83.067 |
|
|
|
|
|
|
|
|
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PROFIT AFTER TAX
|
205.955 |
55.365 |
145.679 |
|
|
|
|
|
|
|
|
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|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
455.371 |
400.006 |
318.821 |
|
|
|
|
|
|
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APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
NA |
64.500 |
|
|
BALANCE CARRIED
TO THE B/S |
661.326 |
455.371 |
400.006 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1144.683 |
641.575 |
762.447 |
|
|
TOTAL EARNINGS |
1144.683 |
641.575 |
762.447 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
242.19 |
65.10 |
171.31 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.53 |
5.53 |
11.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35 |
0.13 |
0.38 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.94 |
1.33 |
1.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.51 |
2.26 |
1.99 |
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 |
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 |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2012 |
As on 31.03.2011 |
|
Rupee term loans from others |
83.890 |
0.000 |
|
Loans and advances from related parties |
24.840 |
24.840 |
|
Loans repayable on demand |
0.000 |
166.667 |
|
Loans repayable on demand from others |
99.983 |
50.00 |
|
|
|
|
|
Total |
208.713 |
241.507 |
FINANCIAL RESULTS AND
PROSPECTS
With the rainfall being normal during the year, production during the year improved to 6.49 lakh tonnes as compared to 4.59 lakh tonnes in the previous year.
The widening gap between demand and supply of industrial salt and the resultant price increases globally, have enhanced the realizations and margins considerably.
The company hopes to improve upon this performance with the prediction of another normal rainfall during the current year 2012-13.
With a view to conserving resources to meet the ongoing capital expenditure / maintenance programme, the Directors do not recommend payment of dividend on equity shares for the year 2011-12
FIXED ASSETS:
Tangible Assets
- Land
- Buildings
- Plant and Equipment
- Furniture and Fixtures
- Vehicles
- Ships Vessels
- Office Equipment
- Computer Equipments
- Leasehold Improvements
Intangible Assets
- Computer Software
AS PER WEBSITE DETAILS:
Press Release
Hindustan Shipyard hands over vessel Good Trade to Goodearth Maritime
Visakhapatnam, February. 17, 2012
Our Bureau Proud moment: The Managing Director
of Goodearth Maritime, Chennai, Mr. Ranjit, addressing the gathering on the occasion
of receiving vessel - Good Trade - built by Hindustan Shipyard Limited in
Visakhapatnam on Friday. — C.V. Subrahmanyam
Hindustan Shipyard Limited (HSL) here,
functioning under the Union Ministry of Defence, has overcome many of its
problems and is on the verge of a turnaround, according to the Flag Officer
Commanding-in-Chief of the Eastern Naval Command, Vice-Admiral Anil Chopra,
here.
He was the Chief Guest at a function in the
shipyard on Friday to hand over the third 53,000-DWT diamond series bulk
carrier - m.v. Good Trade - to the Chennai-based Goodearth Maritime Limited
(GML).
Vice-Admiral Chopra commended HSL for building
the ship in 22 months and said he was confident HSL would deliver warships as
well as merchant vessels on schedule in future.
Warships
He said there was immense scope in the country
for building warships as well as merchant vessels. He said there was a
perceptible change for the better in HSL and it augured well. The association
between the Navy, the Indian Coast Guard and HSL would be of mutual benefit, he
added.
The Chairman and Managing Director of HSL,
Rear-Admiral N.K Mishra, said it was "a proud moment for HSL to deliver
the vessel in 22 months" to GML and the remaining vessels in the series
would also be handed over on time.
He said it was vessel no. 167 built by HSL.
He said HSL had delivered an inshore patrol
vessel to the Indian Coast Guard in January and the remaining four would be
built and handed over on schedule.
Plant upgradation
Exuding optimism, he said, "The silver
lining is already visible for HSL and there will be sunny days in future. We
are modernising the plant and equipment at a cost of Rs. 4500.000 Millions
sanctioned by the Defence Ministry. In future, we will take up both warships as
well as merchant vessels."
Order book
The present order book position was
Rs.10380.000 Millions, with 23 ships on hand.
The vessel - Good Trade - is a modern
double-hull bulk carrier with a high degree of automation, says the press
release issued on the occasion.
The ship is 19 0.00 metres overall in length,
32.26 m breadth, 53840 T scantling draft, and a speed of 15.20 knots.
The vessel has a 37-member crew and it has
been built to DNV classification.
Achievement
The Managing Director of GML, Mr. Ranjit, who
received the vessel, said it was a remarkable achievement on the part of HSL.
His company's association with HSL would
continue.
ARCHEAN CHEM TIES UP RS. 5650.000 MILLIONS FOR GUJARAT PLANT
R. Ravikumar, Chennai, November 19
Archean Chemical Industries Private Limited,
part of the Chennai-based $550-million Archean Group, has secured financial
closure for its proposed Rs 8500.000 Millions marine chemicals project in
Gujarat. A consortium of banks led by Bank of India, with Allahabad Bank, Bank
of Baroda, Canara Bank, Punjab National Bank and Union Bank of India being the
other banks in the consortium, has agreed to extend a debt of Rs.5650.000
Millions. SBI Capital Markets is the sole financial advisor and debt arranger.
Green potash mission The company, in the first phase, is putting up a facility
to manufacture one lakh tonnes of sulphate of potash (SOP), which is used in
specialised fertilisers. SOP is the favoured fertiliser for non-herbaceous
crops that are sensitive to chloride. In India, this chemical is mainly used by
tobacco farmers, said Mr. S.M. Sundaram, Chief Operating Officer of the Archean
group. As the manufacturing process does not involve any organic chemicals, it
will be a part of the ‘Green Potash Mission' of the Government of India, and
will be eligible for Government subsidy too. The facility will come up with
technical know-how from K+S of Germany, he said. Besides SOP, the facility will
also produce industrial salt bromine, magnesium oxide and gypsum in the
process. The plant is expected to start commercial production by the first
quarter of 2012-13. Mr. Sundaram said there is a ready demand for the product
in both domestic and foreign markets. According to him, the domestic demand for
the product now stands at 50,000 tonnes a year, which is currently met through
imports (mostly from Germany). And the market price is around $1,000 a tonne
(excluding 5 per cent import duty). The current global demand stands at five to
six million tonnes. India being the second largest producer of speciality crops
such as fruits and vegetables, the Archean feels that the demand growth will be
significant in the ensuing years. The plant will provide flexibility to expand
capacity up to four million tonnes a year in stages, which will involve an
additional capital outlay of Rs.6000.000 Millions. “On completion of this
phase, the turnover will be approximately Rs 15000.000 Millions,” he said.
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.54.39 |
|
|
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.